Casa Editorial El Tiempo signed yesterday its financial and strategic partnership with Planeta, a Spanish multimedia group that will control 65% of Cada Editorial and 40% of City TV.
PRISA, publisher of El Pais wanted to buy El Tiempo but Planeta paid more and accepted that the editorial control of the Colombian company will remain under the Santos family.
Luis Fernando Santos, President of Casa Editorial El Tiempo was the dealmaker for this excellent move.
INNOVATION thinks that this sort of deal will happen more and more in the Latin American market.
Many family-owned newspapers need cash for future investments if they want to become competitive multimedia groups, and not just mono-media companies.
Foreign media investing will be a must.
And not just by Spanish media groups.
What about Napster, G+J, Edipresse, Handelsblatt, RCS, Springer or News International?
The Latin American media markets are booming.
INNOVATION has recently done media market profile analysis for potential European and American investors.
(Picture by Héctor Fabio Zamora, El Tiempo)