Squirrel Media, S.A. signed an agreement to acquire a 55% stake in Sociedad Gestora de Televisión NET TV S.A. and 100% stake in Veralia Distribución de Cine, S.A.U. from Vocento, S.A. for €18 million.

Squirrel Media, S.A. (BME:SQRL) signed an agreement to acquire a 55% stake in Sociedad Gestora de Televisión NET TV S.A. and 100% stake in Veralia Distribución de Cine, S.A.U. from Vocento, S.A. (BME:VOC) for €18 million on November 29, 2021. The acquisitions described will be financed 49% with Squirrel Media's own funds and 51% by CaixaBank. The turnover of Sociedad Gestora de Televisión NET TV S.A.and Veralia Distribución de Cine, S.A.U. for the year ended 31st December 2020 was approximately €25.87 million.

The net profit for the year ended 31st December 2020 was €4.67 million and EBITDA was €6.1 million. The transaction is expected to close in January 2022.