Telefónica to acquire Spanish pay-TV player

Spanish media group Prisa has accepted incumbent operator Telefónica’s €725m bid for its 56 per cent stake in pay TV platform Canal+’s holding company Distribuidora de Televisión Digital (DTS). The deal gives DTS a market value of €1.3bn (US$1.8bn) and, if approved by regulators, will give Telefónica a controlling stake of 78 per cent, leaving Italy’s Mediaset with a 22 per cent holding.