MADRID, March 8 (Reuters) - Indebted Spanish media group Prisa said on Monday it was targeting core profit of 735 million euros ($1.0 billion) in 2011 after its $900 million deal with Liberty Acquisition Group.
Earnings before interest, tax, depreciation and amortisation were seen rising to 704 million euros this year from 624 million in 2009, Prisa said in a presentation to the U.S. SEC.
Revenues were seen falling to 3.09 billion euros in 2011 from 3.15 billion in 2010 and 3.21 billion in 2009.
On Friday, Prisa said Liberty, a U.S. Special Purpose Acquisition Company, could acquire up to half of its capital in a deal which will complete its debt refinancing.
Prisa shares closed down 7 percent at 3.06 euros, compared with a 0.5 percent rise on the blue chip IBEX, on fears a new share issue would imply heavy dilution for shareholders.
(Reporting by Tomas Gonzalez; writing by Judy MacInnes; Editing by Dan Lalor)
($1 = 0.7307 euro) Keywords: PRISA/EARNINGS (judith.macinnes@thomsonreuters.com; 34 91 585 8340; Reuters Messaging: judith.macinnes.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Earnings before interest, tax, depreciation and amortisation were seen rising to 704 million euros this year from 624 million in 2009, Prisa said in a presentation to the U.S. SEC.
Revenues were seen falling to 3.09 billion euros in 2011 from 3.15 billion in 2010 and 3.21 billion in 2009.
On Friday, Prisa said Liberty, a U.S. Special Purpose Acquisition Company, could acquire up to half of its capital in a deal which will complete its debt refinancing.
Prisa shares closed down 7 percent at 3.06 euros, compared with a 0.5 percent rise on the blue chip IBEX, on fears a new share issue would imply heavy dilution for shareholders.
(Reporting by Tomas Gonzalez; writing by Judy MacInnes; Editing by Dan Lalor)
($1 = 0.7307 euro) Keywords: PRISA/EARNINGS (judith.macinnes@thomsonreuters.com; 34 91 585 8340; Reuters Messaging: judith.macinnes.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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