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MEDIASET ESPAÑA COMUNICACIÓN, S.A. AND SUBSIDIARIES
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IFRIC 19 Extinguishing Financial Liabilities with Equity Instruments
This interpretation establishes that when the terms of a financial liability are renegotiated with the creditor and the
creditor accepts the company’s equity instruments to extinguish all or par t of the liability, the instruments issued are
considered to be par t of the consideration paid to extinguish the financial liability; these instruments must be measured
at their fair value, unless this cannot be reliably measured, in which case the new equity instruments must measured to
reflect the fair value of the financial liability extinguished; and the difference between the carrying amount of the financial
liability extinguished and the initial measurement amount of the of the equity instrument issued is recognised in profit
or loss for the period.The adoption of the criteria introduced by this new interpretation had no impact on the financial
position or results of the Group.
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Improvements to IFRSs (May 2010)
In May 2010, the IASB issued its third omnibus of amendments to its standards within the framework of an annual
process of improvements aimed at removing inconsistencies and clarifying wording. There are separate transitional
provisions for each standard.The adoption of the following amendments resulted in changes to accounting policies, but
did not have any impact on the financial position or performance of the Group.
• IFRS 3 Business Combinations: The measurement options available for non-controlling interests were amended.
Only components of non-controlling interest that constitute a present ownership interest that entitles their holder
to a propor tionate share of the entity’s net assets in the event of liquidation should be measured at either fair value
or at the present ownership instruments’ propor tionate share of the acquiree’s identifiable net assets. All other
components are to be measured at their acquisition date fair value. It clarifies that the contingent price arising from
business combinations prior to adoption of IFRS 3 (revised in 2008) is recognised as provided for in IFRS 3 (2005).
It clarifies the accounting treatment in a business combination of the replacement of an acquiree’s share-based
payment transactions with share-based payments of the acquirer.
• IFRS 7 Financial Instruments - Disclosures: The amendment was intended to simplify the disclosures provided by
reducing the volume of disclosures around collateral held and improving disclosures by requiring qualitative infor-
mation to put the quantitative information in context.
• IAS 1 Presentation of Financial Statements:The amendment clarifies that an entity may present an analysis of each
component of other comprehensive income either in the statement of changes in equity or in the notes to the
financial statements.
• Other amendments resulting from improvements to IFRS to the following standards did not have any impact on
the accounting policies, financial position or performance of the Group.
• IAS 27 Consolidated and Separate Financial Statements: Application of the transition requirements of IAS 27
(revised in 2008) as a result of the amended standards.
• IFRIC 13 Customer Loyalty Programs: In determining the fair value of credit awards, an entity must take into
account the amount of the discounts or incentives that would otherwise be offered to customers who have not
earned award credits.