Chinese media giant Orient Hontai, the majority shareholder of Mediapro, has replaced the company’s long-serving president and CEO Tatxo Benet with Sergio Oslé, the former president of Movistar+ and later CEO of Telefónica España, reports El Confidencial.

Benet, who has led Mediapro for more than a decade, reached a mutual agreement with the board to step down from his position. Alongside this change, Carlos Núñez, former president of Prisa Media, will become the company’s CEO, reporting directly to the new Mediapro president.

The management reshuffle comes at a challenging time for Mediapro. After three years of growth following the pandemic, a drop in contracts saw the Spanish multimedia communications company’s revenue to fall by 10 per cent in the last fiscal year.

In 2024, the audiovisual group was hit hard by the loss of La Liga football contracts, with revenue falling from €1.2 billion to €1.06 billion. Even more significant was the decline in EBITDA, which shrank by 30 per cent to €111 million.

For several years, Mediapro has been pursuing a strategy of diversification, shifting its focus toward audiovisual production. However, the move has yet to offset the decline in sports rights income.

Orient Hontai entered Mediapro in 2018, acquiring a 56 per cent stake for €900 million, and later had to inject an additional €650 million to rescue the company.

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