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FINANCIAL STATEMENTS, MANAGEMENT AND CORPORATE GOVERNANCE REPORT.
2011
•
Pegaso Televisión Inc.
In July 2010,Telecinco capitalised USD 5,392 thousand (EUR 4,063 thousand) of loans to Pegaso, raising its investment
in the company to 43.71% of its share capital.
At year-end 2011 and 2010, the recoverable amount was determined based on the market value resulting from a
valuation made of the merger with a local operator.
•
DTS Distribuidora de TV Digital, S.A.
At 31 December 2011, the performance of Digital+’s business during the year did not give any indications that the
investment was impaired.Therefore, it was not tested for impairment this year.
11. OTHER NON-CURRENT FINANCIAL ASSETS
The following are included under Other non-current financial assets:
31/12/11
31/12/10
Available-for-sale financial assets
Long term loans
143
97
Loans to related companies
49,495
54,865
Other
5,824
6,125
Total
55,462
61,087
Investments in other companies
On 30 March 2011, the 10% stake held by Mediaset España Comunicación, S.A. in Comeradisa S.A. was sold for EUR 1.
Also included under this item in 2011 was the investment in Edam. The carrying amount of this investment is zero. In
2011, an amount of EUR 14,818 thousand of the contribution made to incorporate this company was returned. It was
recognised as income since the carrying amount of the investment was zero under “Non-current financial income/
(expense) – available for sale assets” in the income statement.
On 3 December 2010, Mediaset España Comunicación S.A. sold its ownership interests in Alba Adriática, S.L. and
Kulteperalia, S.L. for EUR 1,500 thousand and EUR 500 thousand, respectively.These amounts were settled by offsetting
a payable to the buyer, Gecaguma, S.L.
The gain on the sale of the investments in Kulteperalia, S.L. amounted to EUR 8 thousand, recognised under “Gains
(losses) on disposals of non-current assets” in the consolidated separate income statement.