UK Pearson Invests in Spanish Publisher

The UK media group Pearson this weekend agreed to take a stake in the Spanish media. Through the group’s subsidiary, Recoletos, Pearson is seeking to purchase up to 30% of the shares of Unidad Editorial S.A, publisher of El Mundo, one of Spain’s leading daily newspapers.

Pearson steps up its foreign interests in the wake of Murdoch’s move last week to create a company in charge of looking after his media interests in Continental Europe (see Newsline).

Marjorie Scardino, chief executive at Pearson, commented on the development: “These are significant steps in the strategy of building Recoletos as one of the most creative and profitable Spanish and Portuguese language media companies. The consolidation of these publishing interests further enhances Recoletos’ presence as a leading media group in the Iberian Peninsula.”

Pearson: 0171 411 2310