Mediapro raises €306m

Channel operator and production group Mediapro has secured a €306 million (US$351.7 million) loan, which will be used to service existing debt and on geographical expansion.

The Barcelona-based business, which runs the La Sexta channel among others, said it had been able to secure the cash after 12 months of strong performance.

The company will use the cash, which comes from a group of eight banks, to pay off a €155 million loan it secured a year ago.

“The operation endows the group with liquidity, thereby consolidating its position in order to continue its geographical and operational process of expansion,” the company said.

It added that it expects to report an EBIDTA profit of €170 million this year. In 2015 it reported EBITDA of €129 million and revenues of €1.5 billion.