36
2006
2007
2008
2009
2010
2011
2012
Total
Intangible assets
Computer software
-
-
-
1
54
460
201
716
716
Property, plant and equipment
Plant
4
-
20
29
-
-
-
53
Furniture
293
15
6
2
20
22
-
358
Computer hardware
-
-
-
28
76
89
11
204
615
Gain from a bargainpurchase arising from the business combination
The following gain from a bargain purchase arose from this business combination:
Thousands
of euros
Consideration transferred
95,893
Less- fair value of the net assets acquired
(115,429)
Gain from a bargainpurchase arising from the business combination
(19,536)
In the aforementioned business combination, the cost of the business combination was EUR
19,536 thousand lower than the net of the acquisition-date amounts of the identifiable assets
acquired and the liabilities assumed. Therefore, as provided for in the recognition and
measurement bases, this amount was recognised as income under “Gains on Bargain
Purchases Arising on Business Combinations” in the 2012 consolidated income statement.
Assets not reflected in the accounting records of Gestora de Inversiones Audiovisuales La
Sexta, S.A. were included (i.e. the “La Sexta” trademark and the audiovisual communication
licence granted). The fair value of the licence was calculated on the basis of its capacity to
generate income with an indefinite useful life using the discounted cash flow method. The
royalty relief method was used to calculate the fair value of the trademark, considering a
useful life of 20 years.
At 2012 year-end, the allocation of the fair values of the assets acquired and liabilities
assumed, in particular of trademarks and licences, was subject to possible adjustments within
one year from the acquisition date, as required by accounting legislation. The purpose of these
adjustments is to reflect, in general, any additional information obtained during the
aforementioned measurement period, and, in the Company's particular case, the information
referring to the Spanish Supreme Court judgment of 27 November 2012 relating to the
assignment of digital multiplexes with national coverage. Once this period had elapsed and
following a review by the Parent, based on a report by an independent expert, of the values
initially assigned to the aforementioned assets (using various widely accepted valuation
methods for this purpose), therewas no change in those values.
Had the business combination been performed at the beginning of 2012, revenue would have
amounted to EUR 828,475 thousand in 2012 and a loss of EUR 22,008 thousand would have
been incurred in that year.
