Telefonica ringing
Pair of exec appointments signal new growth
Juan Jose Nieto will continue as managing director of Antena 3 TV, Spain's highest-rated private broadcaster, in which Telefonica Media has a 47% stake. Telefonica had suggested earlier this year that Nieto would be leaving A3TV to head up Telefonica's cell-phone subsid Telefonica Moviles.
Pedro Perez will step down as CEO of communication and institutional relations at Telefonica to concentrate on his post as executive president of digital platform Via Digital, which is 69% owned by Telefonica.
Key moves
The two postings are the first key moves by new Telefonica Media prexy Jose Antonio Rios, former CEO of Latin American satcaster Galaxy Latin America, to prepare Telefonica Media for its public stock offering in the first half of 2000.
The ongoing role of Nieto at A3TV coincides with increased ambitions at the web and further diversification. Nieto declared on Tuesday that A3TV aims to ride the general hike in TV ad revenues in Spain -- estimated at 23% for 1999 -- to achieve profits before tax and financial costs of $156 million for this year.
Expanding base
Nieto also revealed that A3TV has bought 100% of Movierecord Cine, Spain's top cinema advertising buyer. Movierecord Cine is a subsid of the Movierecord Group, owned by audiovisual investor Nederlander Group Gallic (49%) and risk investment company British 3i (41%).
Perez will take on more day-to-day duties at Via Digital, teaming with Via Digital managing director Juan Ruiz de Gauna to increase subs. Via has a claimed 400,000 subscribers. It aims to reach 600,000 by next March.
(John Hopewell in Madrid contributed to this report.)
