MADRID: Chinese investment fund Orient Hontai Capital has taken control of Mediapro, best known for owning television rights to the Spanish and Italian football leagues, the Spanish media group said Friday.
The fund bought a 53.5 per cent stake in Imagina, a holding company that includes Mediapro, which also produces films and series, and Globomedia, another media producer, for one billion euros (US$1.2 billion).
The agreement gives Orient Hontai control over lucrative international television distribution rights for Spain’s La Liga, as well as the Italian league’s domestic TV rights.
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Mediapro also has the rights for the Champions League in Spain.
“The agreement will give the group access to the emerging market in China,” it added in a statement.
Mediapro also has television distribution rights for the International Basketball Federation in Spain.
Apart from sports, it has produced films such as Midnight in Paris and other Woody Allen movies, and television series including The Young Pope starring Jude Law. — AFP