MADRID (Reuters) - Entertainment company Walt Disney Co has signed a deal to buy 20 percent of Net TV, a digital television company controlled by Spanish media group Vocento, the Spanish firm said on Tuesday.
The purchase, valued around 27 million euros ($39.23 million), will give the Walt Disney Company Iberia an additional outlet in Spain to show its television content, said Net TV in a statement.
Net TV owns one of six digital licenses awarded by the Spanish government in 2000.
Once Walt Disney acquires the stake, Pantalla Digital, which is owned by Vocento, will retain 55 percent, and the media group Intereconomia’s subsidiary Homo Videns will have 25 percent.
Reporting by Sarah Morris, editing by Dave Zimmerman