New President for Sogecable

MADRID: Spain’s PRISA has announced the first steps in the reorganization of Sogecable, with Manuel Polanco named president of the operation, which is being renamed PRISA TV as the holding company for all of the firm’s audiovisual operations.

Polanco, who has spent his entire career at PRISA, replaces Rodolfo Martin Villa as president. Pedro García Guillén remains CEO of the company, which is being reorganized to hold all of PRISA’s TV broadcasting and production assets. PRISA TV will include Digital+, Cuatro, Portugal’s TVI, the production company Plural and the U.S. Hispanic network V-me. With the restructuring also comes some changes to the Board of Directors. Joining the lineup are Canal+ France veteran Pierre Lescure; Markus Tellenbach, the president and CEO of TVN Group; and Fernando Martínez, secretary general of Grupo PRISA.

Polanco commented, "The audiovisual holding company is now the main source of revenue for Grupo PRISA and is set to become the motor for strategic growth for the company. To this end, we have already initiated a series of operations that will lead to a wide expansion for the Group in Spanish and Portuguese-speaking markets."

Prisa is awaiting regulatory approval for its deal with Telecinco that would see the leading Spanish broadcaster acquiring Cuatro and a 22-percent stake in Digital+.