PRISA and IBN to Conquer European and Latin American Markets PRISA and Talos Partners Agree On Terms of Investment
PRISA, the world’s leading Spanish and Portuguese entertainment, education and information media company, and In-Store Broadcasting Network (IBN), the world’s largest Retail Media company, announced that they will form a partnership and 50/50 joint venture to build a Retail Media network throughout Spain and Latin America.
PRISA has retained Violy and Company to assist with its strategic repositioning plan, which includes finding strategic media and technology partners, and transforming the company from a distribution-centric to a consumer-centric model media platform.
In May 2009, Violy McCausland, the Principal of Violy and Company, introduced PRISA to Talos Partners, whose chairman, Robert Brazell, is also the chairman of IBN.
As a result, Talos Partners, a Merchant Bank headquartered in New York City, announced that it would purchase up to 10 million shares of PRISA’s treasury stock representing a 4.5% stake in the media giant.