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Antena 3 claims merger could bring €80m windfall -
Antena 3 claims merger could bring €80m windfall
Iñaki Ferreras ©RapidTVNews | 18-12-2011
Painful as it may have been but Antena 3 has calculated that the synergies in its long drawn out merger saga with laSexta could bring about benefits in the region of €60–€80 million. According to a document by Antena 3, the merger will serve to improve the use of laSexta's content and TV rights, cut down on production costs and shrink general expenses, including staff costs. In specifying these synergies, Antena 3 did not include the benefits the group will obtain through fiscal joint management including debt. That said any benefits will be progressive as Antena 3 concedes that the cost of the merger will be in the region of €10–€15 million.
On a commercial level, the merger will allow the firm to optimise profit-making policy across all of the new group's eight channels. In particular laSexta 2 and laSexta 3 channels will be reinforced
It is exacted that the Spanish advertising market will be an indirect beneficiary of the move taking advantage of inherent rationalisation. The advertising market is dominated by Mediaset España with a 43.5% share and the now combined Antena 3-laSexta group with 42%.