Spain: Mediaset España renounces its acquisition of TV rights to Euro 2016 (Spanish press)

The broadcasting group Mediaset España may have renounced its acquisition of the TV rights, in Spain, to Euro 2016, according to multiple Spanish media reports on 29/04/2016. The group, 46% owned by the Italian free and pay-TV group Mediaset, reportedly told the Spanish news agency Europa Press that the purchase of these rights would "seriously damage the profitability of the company", on 29/04/2016.

"If we had accepted the proposal to purchase those rights, it would have had a negative impact of €15m on the accounts. The company has measured the impact on the audience that an event of this nature can bring, but it is not willing to damage the bottom line of its results by reducing net profit," indicated official sources of Mediaset España, according to Europa Press on 29/04/2016. Mediaset España posted a net profit of €167m on 31/12/2015, according to the annual report of the company.

UEFA, reportedly, may have lowered its price of the rights from €70m to approximately €40m, the same as the floor price for the pay and free-TV rights, in Spain, to Euro 2016, according to Iberian…