Spain's Telefonica taps Nieto
Exec to head TV and media subsid
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Since 1997, Nieto, a former mergers and acquisitions exec at Goldman Sachs and Bankers Trust, has worked as MD of free-to-air, commercial TV net Antena 3 TV, in which Telefonica Media has a 22.5% stake.
Nieto's appointment is interpreted as a move by Telefonica to create stronger links between Antena 3 TV, one of Spain's top two private TV nets, and other companies in which Telefonica Media is a lead shareholder, such as digital platform Via Digital (in which it has a 37% stake) and Spain's biggest film production house, Lola Films, run by Andres Vicente Gomez.
Such potential synergies, which have not been exploited fully to date, could include joint production acquisition between Antena 3 TV and Via covering both free and pay TV rights for Spain, or stronger co-production links between Antena 3 TV and Lola Films.
