November 29, 2020

The Prisa Group in Spain leaves Panama by selling a radio to the TVN Media group



The Spanish Grupo Prisa has left Panama, where it arrived in the 2000s, after the sale of Radio Panama and the radio formula Los 40 to TVN Media, that Panamanian group reported Thursday.

The sale of the Green Emerald Businees assets (Radio Panama and Los 40) was signed on January 24 and is subject to the approval of the regulator of the sector, TVN Media reported without revealing the amount of the transaction.

“With the incorporation of Radio Panama, the informative radio leadership of TVN Media is consolidated, through a station positioned with high credibility in its opinion and news programming,” said the official letter.

In addition, with the world brand Los 40, “music and entertainment programming and participation in different events will be consolidated to continue interacting with the audience,” said TVN Media.

The Prisa Group arrived in Panama in the 2000s as part of the expansion of the Spanish conglomerate through Latin America, where it has more than 1,200 stations among its own, investees and associates.

Radio Panama has a strong informative and political analysis segment, and announced last December that it was sued by Panamanian ex-president Ricardo Martinelli (2009-2014) for at least $ 5 million for the coverage he has given to the judicial case that It takes place in Spain against the Spanish construction company FCC, in which the former head of the State is linked.

Martinelli has also filed complaints against other Panamanian media informants and executives, including some from TVN Media.

“TVN Media is a multimedia company that aims to entertain, communicate and report in a responsible manner to all audiences in Panama, always with the best through our multimedia platforms comprising Open TV (TVN and TVMAX), TVN Pass (platform digital), social networks, web media, BTL, TVN Radio, and the new incorporation of Radio Panama and Los 40, “said the Panamanian group.

The main shareholder of TVN Media is Stanley Motta, one of the wealthiest men in Panama, if not the most, also the main shareholder of the COPA airline and its subsidiaries, among other businesses such as an international network of duty free shops in airports.

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