PRISA

In the final years of Franco's regime, a period of transition for Spain, Jesús de Polanco and José Ortega Spottorno founded Promotora de Informaciones, S.A., or PRISA, in 1972. Polanco, a well-known publisher, and Ortega, the son of a philosopher, established what would become a dominant force in Spanish-language media. The group's foundational asset was the newspaper El País, launched in 1976, which quickly became a benchmark for democratic Spain. The company expanded its influence by acquiring the radio network Cadena SER in 1985 and later launching the pay-TV platform Canal+ in Spain. A significant milestone in PRISA's journey was its Initial Public Offering (IPO) in June 2000, which saw its shares rise over 18% on the first day of trading. This move solidified its position as a major player in the European media landscape. The company's portfolio grew to include educational publisher Santillana, making it a comprehensive content provider across news, entertainment, and education. Following Jesús de Polanco's death in 2007, the company faced considerable challenges, including a heavy debt burden. This led to a significant shift in ownership, with the Polanco family's control diminishing and international investors like Amber Capital becoming major shareholders. The company underwent substantial restructuring, including the sale of its pay-TV business to Telefónica and a portion of its publishing arm, Alfaguara, to Penguin Random House. Despite these financial struggles, PRISA continues to be a leading media group in the Spanish-speaking world, with a vast portfolio that includes newspapers, radio stations, and educational content.