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Associates
The associates over which Atresmedia Corporación de Medios de Comunicación, S.A. or
its subsidiaries do not exercise control but over which they have the capacity to exercise
significant influence in their management, normally through agreements with other
shareholders, were accounted for in the consolidated financial statements using the
equity method. Using this accounting method, the investment is recognised at cost,
including any goodwill arising on the acquisition, and is subsequently adjusted on the
basis of the changes in its equity, in proportion to the percentage of ownership that
corresponds to the Group. The Group’s share of the results of these companies is
recognised, net of the related tax effect, under “Share of Results of Associates” in the
consolidated statement of profit or loss, and any dividends received from these
companies are deducted from the value of the investment.
These associates are as follows:
Company name
Registered
office
Year of
incorporation
Line of business
Owner
2015
%
I3 Televisión, S.L.
Madrid
2005
IT services
Atresmedia Corporación de Medios de
Comunicación, S.A.
50
Hola Televisión América, S.L.
Madrid
2011
Audiovisual communication services
Atresmedia Corporación de Medios de
Comunicación, S.A.
50
Hola TV Latam, S.L.
Madrid
2013
Audiovisual communication services
Hola Televisión América, S.L.
37.50
Hola TV US, LLC
Miami
2013
Audiovisual communication services
Hola TV Latam, S.L.
37.50
The Group does not exercise control over the associates that are 50% owned, because
under the shareholders agreements it has no powers to participate in the investees'
financial and operating policies.
Changes in the scope of consolidation and main transactions in 2015
-
On 21 May 2015, Atresmedia Corporación de Medios de Comunicación, S.A.
incorporated the subsidiary Atresmedia Música, S.L. (Sole-Shareholder Company), the
share capital of which amounted to EUR 3 thousand. Its company object includes the
following activities: the recording, production, editing, distribution and marketing of
phonograms and all kinds of musical and videographic recordings, regardless of media
or format; the performance of activities for the advertising and promotion of its own or
acquired products; and company object-related training activities.
-
On 22 June 2015, Atresmedia Corporación de Medios de Comunicación, S.A.,
as sole shareholder of Atres Advertising, S.L. (Sole-Shareholder Company) and Antena 3
Eventos, S.L. (Sole-Shareholder Company), prepared and signed the Common Draft
Terms of Merger in relation to the merger by absorption of Antena 3 Eventos, S.L.
(Sole-Shareholder Company) (absorbed company) into Antena 3 Eventos, S.L. (Sole-
Shareholder Company) (absorbing company). This is a case of merger by absorption of
a wholly owned company in accordance with the provisions of Article 49 of Law 3/2009
on structural changes to companies formed under the Spanish Commercial Code, as the
absorbing company is the sole shareholder and holds directly all of the shares
representing the share capital of the absorbed company. The draft terms of merger
were filed at the Madrid Mercantile Registry on 6 July 2015.