MADRID (Reuters) - Spanish media group Prisa (PRS.MC) said on Wednesday it had agreed to sell Alfaguara, publisher of Nobel-prize-winning author Mario Vargas Llosa and several other editorial brands, to Penguin Random House for 72 million euros ($100 million).
Alfaguara - directly owned by Santillana, a publishing house controlled in turn by Prisa - is one of Spain’s best-known book publishers, founded by celebrated novelist and Nobel prize-winner Camilo Jose Cela in the 1960s.
Prisa, which publishes Spain’s most-read quality newspaper El Pais, has been restructuring its debt burden of over 3 billion euros and selling off assets.
It said in a statement it was selling other Spanish-language publishing brands alongside Alfaguara, excluding those operating in educational publishing, which makes up 87 percent of Santillana’s income.
($1 = 0.7189 euros)
Reporting by Sarah White, Editing by David Evans