| Antena 3 and laSexta agree to merge | |
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 Antena 3 and laSexta have signed an agreement for the integration of the two companies by means of a merger by absorption of La Sexta by Antena 3, whose Board of Directors approved the operation this afternoon.The merger heralds a new order in the Spanish television and audiovisual market, "consolidating the Antena 3 group's position as a leading player", indicate the note. According to the agreements adopted, the shareholders of laSexta will receive, in exchange for the assignment of all assets and liabilities of the same, 7% of the share capital of the new Antena 3 group. In order to perform this exchange, Antena 3 will first increase its capital by means of a new share issue. In addition, the agreements include the allocation of an additional stake of up to 7% to the shareholders of laSexta in a graduated manner and subject to the achievement of a series of targets linked to the results of the new group in the 2012-2016 period. Delivery of all or part of this stake, as the case may be, will be in the form of shares belonging to Antena 3's treasury stock. The execution of the merger and the supplementary agreements is subject to obtaining the corresponding regulatory and competition approval. Moreover, Antena 3 intends to submit the operation for approval at its next Ordinary General Shareholders' Meeting, to be held in the first quarter of 2012. With the incorporation of the choice of television offered by laSexta, the new Antena 3 group augments its exceptional presence on other markets (radio, advertising or cinema) with a leading proposal in the television business: A total of eight channels (Antena 3, laSexta, Neox, Nova, Nitro, laSexta2, laSexta3 and GolT, the latter on a lease basis), providing a complementary and varied offer to meet the needs of both viewers and advertisers. |
