64
22.3Off-balance-sheet agreements
The detail of the guarantees provided by the Company to banks for third parties is as follows:
Thousands of euros
2013
2012
Group companies and associates
5,466
6,466
Other guarantees
13,868
14,009
Total
19,334
20,475
The Company's directors consider that any liabilities not foreseen at 31 December 2013 that might
arise from the guarantees providedwould not bematerial.
23.- Events after the reportingperiod
On 19 February 2014, the Company, through a relevant event communication and subsequent to a
resolution of its Board of Directors, announced a partial novation of the integration agreement
entered into on 14 December 2011 with Gestora de Inversiones Audiovisuales La Sexta, S.A. ("La
Sexta") and its shareholders, which set the terms and conditions for the integration of La Sexta
into the Atresmedia Group through a merger by absorption. Specifically, the novation of the
agreement relates to the terms and conditions regarding the "Additional Ownership Interest",
whereby La Sexta shareholders were granted the right to receive an additional ownership interest
of 7% of the share capital of Atresmedia Corporación de Medios de Comunicación, S.A., conditional
upon the Atresmedia Group's earnings performance from 2012 to 2016, inclusive.
Under the novation, Atresmedia, with Gamp Audiovisual S.A. and Imagina Media Audiovisual, S.L.,
agreed to advance and permanently settle the delivery of the partial ownership interest that would
correspond to both companies and, accordingly, on 24 February 2014 they were delivered, with a
charge to treasury shares, an ownership interest in Atresmedia Corporación de Medios de
Comunicación, S.A. equal to 2.079% and 1.631% of its share capital, respectively.
As a result of the negotiation process for this agreement and forming part thereof, other
agreements were reached with Gamp Audiovisual, S.A. and Imagina Media Audiovisual, S.L.
consisting of the cancellation of their proportional share of the financial derivative agreement
described in Note 9 and of the definitive conclusion of other matters relating to the guarantees and
obligations under the integration agreement entered into for the merger with Gestora de Medios
Audiovisuales la Sexta, S.A. (see Note 15).
The recognition of all these transactions will give rise to an estimated reduction of EUR 13,631
thousand in the shareholders' equity of the Company in the financial statements for 2014.
The terms and conditions agreed upon in the integration agreement relating to Gala Desarrollos
Comerciales, S.L. remain unchanged and, accordingly, it continues to be entitled to receive an
additional ownership interest of 0.508% of the share capital of Atresmedia Corporación de Medios
de Comunicación, S.A., conditional upon the earnings performance of the Atresmedia Group, as
indicated above.
24.- Explanation added for translation toEnglish
These financial statements are presented on the basis of the regulatory financial reporting
framework applicable to the Company (see Note 2). Certain accounting practices applied by the
Company that conform with that regulatory framework may not conform with other generally
accepted accounting principles and rules.
