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On 6 February 2013, Antena 3 de Televisión Colombia, S.A. and Canal 3 Televisión
Colombia, S.A. were liquidated.
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On 4 July 2013, Hola Televisión América, S.L. increased its capital by EUR 679
thousand. However, this did not result in an increase in the percentage of ownership held in
this company.
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On 5 December 2013, Atresmedia Foto, S.L. was formed with Atresmedia Corporación
de Medios de Comunicación, S.A. holding a 90% ownership interest therein. Its company
object is the manufacture and sale of photo albums and promotional and gift items.
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On 12 December 2013, the Company acquired the other 50% of Cordina Planet, S.L.,
thereby giving the Company a full ownership interest in this company's share capital.
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In December 2013 a shareholder contribution of EUR 2,566 thousand was made to
offset losses at Antena 3 Noticias, S.L. (Sole-Shareholder Company).
None of the investees of Atresmedia Corporación de Medios de Comunicación, S.A. are listed
on Spanish or foreign stock exchanges.
At the end of each year or period the directors assess the business plans of the Company’s
investees, revise them if necessary and estimate the value of the ownership interests and the
recoverability of the investments made.
For investments for which business plans are not available, impairment is estimated on the
basis of the company’s equity and the unrealised gains at the end of the year or period.
During 2014 the Company reported reversals and impairment of financial instruments, net
totaling EUR 15,209 thousand. Although, there were reversed provisions amounting to EUR
21,761 thousand, of which EUR 19,981 thousand are relate to the application of the existing
provision for Uniprex S.A.U. as a result of the analysis of the value of this investment. On the
other hand, are recorded, among others, a deterioration of EUR 1,337 thousand relating to the
participation in Cordina Planet, S.L. and EUR 1,319 thousand for Antena 3 Noticias, S.L.
9.- Information on the nature and level of risk of financial instruments
The Group has a risk management and control system in place which is periodically reviewed
and updated based on the changes in the Group's business activities, the materialisation of
risks, legislative developments and the organisation's own development.
This risk management and control system is a tool to aid in management decision-making and
to effectively manage risks by identifying and implementing the controls and actions plans, if
any, that are necessary for all the identified risks, thereby improving the ability to generate
value and minimising any impact that may arise from the materialisation of any risk.
Risk analysis and control affects all Group businesses and activities and also involves all
organisational units. It is therefore a corporate risk management and control system in which
the entire organisation actively participates and which is managed and overseen by the Board
of Directors, with the functions that are granted in this regard to the Audit Committee and the
coordination and participation of the Regulatory Compliance Committee and, in particular, the
Legal area in risk management and compliance controls, the Finance area in relation to
financial risks and the set of controls that compose the System of Internal Control over
Financial Reporting and, lastly, the Internal Audit and Process Control area in the coordination
and supervision of the overall functioning of the risk management system.
The Group has the tools and the organisation necessary to ensure the effectiveness of the
approved control procedures.