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b)

Basis of consolidation

Subsidiaries

Following are the subsidiaries included in the scope of consolidation:

Company name

Registered

office

Year of

incorporation

Line of business

Owner

2015

%

Antena 3 Multimedia, S.L.U.

Madrid

2004

Commercial management by television

Atresmedia Corporación de Medios

de Comunicación, S.A.

100

Antena 3 Noticias, S.L.U. (*)

Madrid

2012

Audiovisual productions

Atresmedia Corporación de Medios

de Comunicación, S.A.

100

Atres Advertising, S.L.U. (*)

Madrid

2004

Advertising management

Atresmedia Corporación de Medios

de Comunicación, S.A.

100

Atresmedia Cine, S.L.U. (*)

Madrid

2000

Audiovisual productions

Atresmedia Corporación de Medios

de Comunicación, S.A.

100

Atresmedia Foto, S.L.

Madrid

2013

Manufacture and sale of photo albums

and promotional materials

Atresmedia Corporación de Medios

de Comunicación, S.A.

90

Atresmedia Música, S.L.U.

Madrid

2015

Management of music rights

Atresmedia Corporación de Medios

de Comunicación, S.A.

100

Cordina Planet, S.L.U.

Barcelona

2010

Production, distribution, dissemination

and marketing of audiovisual content

Atresmedia Corporación de Medios

de Comunicación, S.A.

100

Flooxplay, S.L.U.

Madrid

2015

Production and distribution of audiovisual

content

Atresmedia Corporación de Medios

de Comunicación, S.A.

100

Guadiana Producciones, S.A.U.

Madrid

1994

Audiovisual productions

Atresmedia Corporación de Medios

de Comunicación, S.A.

100

Música Aparte, S.A.U. (*)

Madrid

1990

Management of copyrights

Atresmedia Corporación de Medios

de Comunicación, S.A.

100

Uniprex, S.A.U. (*)

Madrid

1982

Radio broadcasting services

Atresmedia Corporación de Medios

de Comunicación, S.A.

100

Antena 3 Televisión Digital Terrestre de

Canarias, S.A.U.

Las Palmas

2006

Local digital terrestrial television

Uniprex, S.A.U.

100

Canal Media Radio, S.A.U.

Madrid

1997

Radio broadcasting services

Uniprex, S.A.U.

100

Uniprex Televisión Digital Terrestre de

Andalucía, S.L.

Seville

2006

Local digital terrestrial television

Uniprex, S.A.U.

74.2

Uniprex Televisión, S.L.U.

Madrid

2004

Indirect management of TV service

Uniprex, S.A.U.

100

Uniprex Valencia TV, S.L.U.

Valencia

2005

Local digital terrestrial television

Uniprex, S.A.U.

100

(*) Audited companies.

The subsidiaries over which the Group exercises control are fully consolidated and all

their assets, liabilities, income, expenses and cash flows are included in the consolidated

financial statements after making adjustments to adapt the accounting policies used to

those applied by the Group and adjustments and eliminations relating to intra-Group

transactions.

The Group considers that it exercises control over a company when it has sufficient

power to govern its financial and operating policies so as to obtain benefits from its

activities.

The results of subsidiaries acquired during the year are included in the consolidated

statement of profit or loss from the date of acquisition to year-end.