The media group Prisa is experiencing significant changes at the top, with the resignation of Carlos Núñez as the executive president of Prisa Media. This decision follows clashes with the group’s chairman, Joseph Oughourlian, particularly surrounding the proposed launch of a new television channel, which did not receive the necessary backing from the board.
“These years have been very intense and rewarding because, thanks to everyone’s effort, we have opened new paths for the group and laid the foundations for a more than promising future,” Núñez stated. He added, “Having closed this chapter, I believe it is time to face new professional challenges.”
The board of directors has accepted his resignation and plans to select his successor amid what they have labeled as necessary restructuring. This restructuring includes reducing the number of board members from 15 to 11, simplifying Prisa’s governance model to streamline operations.
Núñez’s tenure lasted nearly four years, during which he significantly improved revenue and EBITDA figures. His leadership saw the implementation of a subscription model for Prisa's flagship publication, El País, which surpassed 400,000 subscribers. He also spearheaded digital transformation initiatives across the company and strengthened Prisa’s audiovisual offerings.
Oughourlian, who owns 29.6% of Prisa, has been vocal about his strategic vision for the company and expressed concerns about the viability of entering the open television market. He emphasized the financial risks involved, especially with dwindling viewership for traditional television formats. “Investing in 2025 in free-to-air television does not seem like a project for the future,” Oughourlian stated.
The tension between Núñez and Oughourlian boiled over during a recent board meeting where the proposed television project was turned down. This rejection and ensuing arguments were significant factors contributing to Núñez’s departure, as sources close to the situation indicated.
Alongside Núñez, José Miguel Contreras, the company’s content director and proponent of the controversial television project, was also let go. Oughourlian had warned previously of grave consequences for those who pushed the failing initiative, saying, “If the project does not go forward, we will relocate those who were heavily involved, or they must find another opportunity because they may not have a place within the company.”
Despite the tumultuous exit, Núñez’s tenure was highlighted by substantial achievements. Under his leadership, Prisa Media improved its financial performance significantly, with 2024 marking the company’s EBITDA increase to 57 million euros, up 12% from the previous year. The company also focused on the growth of its podcast market, positioning Prisa Audio as a leader within the Spanish-speaking podcast sector.
With Núñez’s resignation now formalized following yesterday’s extraordinary meeting of the board, Pilar Gil, the first vice president, will temporarily assume his responsibilities until a new executive president is appointed. The plan for selecting his successor is underway, with the nominations committee consisting entirely of independent directors, led by Fernando Carrillo Flórez, the board's vice chairman and former Colombian Minister of the Interior.
The leadership shakeup at Prisa reflects broader trends and challenges within the media sector, as companies navigate the digital transformation and changing consumer behavior. The need for Prisa to adapt and innovate is more pressing than ever, especially as the competition heats up for viewer attention across various formats.
Analyzing the organizational restructuring, experts note the importance of diversifying media strategies, particularly through digital platforms. By embracing new technologies and models, Prisa aims to secure its standing within the rapidly changing digital media environment. The company’s focus will likely shift toward maximizing its existing strengths, such as its dominant radio presence and acclaimed journalism, as it moves forward.
While the future remains uncertain for Prisa Media amid this leadership transition, the commitment to enhancing its operational framework and exploring new paths suggests potential for revitalization and growth. Observers will be watching closely how these changes will facilitate innovation and address audience engagement strategies within the company.