Grupo Prisa Wants To Conquer The New World
Move over, Vivendi Universal. Spanish media giant Grupo Prisa has global designs, too. On June 28, Prisa's $867 million initial public offering--Spain's largest ever--valued the Madrid-based company at $5.2 billion and gave it the wherewithal to take a bigger piece of the worldwide market of 400 million Spanish speakers. And it's none too soon for Chief Executive Juan Luis Cebrian. Together with founder, owner, and Chairman Jesus de Polanco, Cebrian is already making acquisitions beyond Spain's borders. "We want to be the No. 1 media provider in the Spanish language," says Cebrian, the former editor of Prisa's flagship newspaper, El Pais.
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