Prisa Post-Merger Stock Begins Trading Today

Prisa

PRISA, fresh from the merger of GRUPO PRISA and LIBERTY ACQUISITIONS HOLDING CORP. last week, begins trading on the SPANISH STOCK EXCHANGE and, through American Depository Receipts, on the NEW YORK STOCK EXCHANGE TODAY (12/3) and will begin trading no later than DECEMBER 9th.  The trading follows approval of the deal by SPAIN's competition agency CNMV.  Subscription rights issued to PRISA shareholders prior to the merger will also be listed on the Spanish market no later than DECEMBER 9th.

JUAN LUIS CEBRIAN, CEO/Chairman of PRISA, said that the deal "allows PRISA executives to focus their efforts on business development and on the transformation of the traditional business model into one that will integrate all units through digital technology. Furthermore, we are creating a multimedia platform that will enhance our product and service offering and match consumers with new digital content."

"The financial support that LIBERTY is able to provide to PRISA will substantially strengthen its balance sheet, restoring the company to financial health," said LIBERTY Chairman MARTIN E. FRANKLIN. "The capital infusion will allow PRISA to more aggressively pursue its growth strategies, including digital product enhancement, international expansion and greater synergies between its market-leading media assets. With listings in both the U.S. and SPAIN, PRISA will be a more diverse company, more international, and will have the new model of corporate governance necessary to face this new phase."

PRISA owns GLR NETWORKS, which operates a syndication division and two radio stations in the U.S., Spanish Talk WSUA-A (RADIO CARACOL)/MIAMI and Spanish Talk XEWW-A (W RADIO)/TIJUANA-SAN DIEGO-LOS ANGELES.

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