By Mauro Orru 
 

Vivendi SE said Friday that it is buying a 7.6% stake in Spanish media conglomerate Promotora de Informaciones SA, known as PRISA.

The French media giant didn't disclose financial details for the stake purchase.

PRISA is the owner of El Pais, Santillana, Cadena SER, Radio Caracol, AS and Los 40 Principales.

"Vivendi's strategy has very clear synergies with the roadmap drawn up by PRISA, involving the development of educational subscription services as well as news and entertainment content, and a robust commitment to the digitalization of its products and brands," Vivendi said.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

January 22, 2021 03:30 ET (08:30 GMT)

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