Altice to purchase independent Portuguese broadcaster TVI

Altice Portugal has made eight commitments to mitigate it falling foul of Portugal’s Monopolies Commission AdC over the acquisition process of Portuguese media group Media Capital, the owner of TVI.

 

Eight remedies that aim to provide greater margin for manoeuvre for the monopolies regular to give the green light for the €440 million deal.

The AdC, led by Margarida Matos Rosa, has been undertaking an investigation into the proposed purchase since 15 February to decide if it should pass or reject the buyout proposal by the Dutch-owned media group.

The commitments include Altice Portugal freeing up channel distribution deals, content, advertising and TDT with these departments being controlled by distinct companies within the group and accepting to implement regulated supply access to its platform for a period of between five and 10 years.

If it goes ahead, Altice will own a 94.7% stake in Media Capital currently owned by Prisa. Altice has interest in both TV and radio and owns Portugal’s largest content producer Plural. In 2016 it reported revenues of €174 million and a EBITA of €41.5 million.

Altice CEO, Michael Combes, says the acquisition of Media Capital is unique opportunity to invest more capital in a market which has been our home for many years.”