Via Digital has completed the capital extension approved last December 13, increasing the capital value of the company by Ptas 31,488,750,000 (Euro 190 million) and giving it a total value of Ptas 94,466,250,000.

Telefonica Media, Via’s main shareholder, now owns 48.63 per cent of the platform (up from 68.60 per cent). Via has a new shareholder in the shape of Strategic Money Management (SMM) a Dutch company that has taken a 15.59 per cent stake. SMM will not take an active role in the management of the platform. Public broadcasters Telemadrid, Television de Galicia and Television Valenciana (RTV) declined to up their investment in Via Digital and now have reduced their stakes in the platform.

Amongst Via’s other shareholders, Televisa has increased its stake from 8.77 per cent to 10 per cent. Media Park has also increased its participation from 3.21 per cent to 5 per cent. TV3, the Catalan TV broadcaster, is seriously considering increasing its participation, possibly from 1.79 per cent to 5 per cent. The publishing group Recoletos is keeping its stake at 5 per cent. DirecTV remains with 6.9 per cent.

Via Digital, whose present president is Juan José Nieto, claims to have reached 450,000 subscribers.

Gran Via, Via Digital’s most successful pay-TV channel, grew its audience base by 40 per cent last year. Via Digital said this channel, along with the children and cinema’s channels, are the most popular in the platform amongst subscribers. Gran Via now has more than 250,000 subscribers and has two multiplexed versions.

According to a study by consultants Europay International, a total of 3.8 million Spanish homes will be connected to digital TV by the year 2003.