Andrés Varela Entrecanales controlará La Séptima tras la renuncia del socio argentino a hacerse con un 20% adicional de la cadena

Andrés Varela Entrecanales will lead La Séptima after the Argentine partner's decision to retain a 20% additional stake in the new national open television channel, which is set to begin broadcasting on November 5th. The businessman and former politician Josué Luis Manzano, whose company Integra Capital acquired Telefónica del Perú last year, has relinquished his right to acquire the additional 20% stake in La Séptima.

As a result, Varela Entrecanales will now hold a majority stake of 65%, while Manzano will retain 25% and CEO Josué Miguel Contreras will have the remaining 10%.

Manzano's decision to maintain his 20% stake is aimed at avoiding conflicts, as he also participates in Right News Media, a media outlet of Javier Negre, which takes an editorial position opposed to La Séptima. The Argentine businessman's intentions are also to prevent a future government from perceiving him as an ideological rival, which could negatively impact his business interests. Furthermore, it is believed that Manzano will be closely monitoring the situation at Prisa.

The partnership agreement for La Séptima required an investment of between €20 and €25 million, with Entrecanales contributing between €13 and €16 million, Manzano contributing between €5 and €6 million, and Contreras contributing between €2 and €2.5 million. Initially, the project also involved Andalusian entrepreneur Diego Prieto and a group of companies associated with Adolfo Utor, the president and owner of Baleía (a company unrelated to the new channel) and also a shareholder of Prisa.

La Sétima's business was expected to be profitable around 2030 and generate revenues of approximately €40 million by the end of 2029, according to Josué Miguel Contreras, who spoke about this to EXPANSIÓN in late June. The initial investment needed to launch the new channel is estimated to range between €20 million and €25 million over three years, with more than half of the funds disbursed in the first year.

The main budget items include regulatory costs, investment in platforms and technical equipment, and expenses for creative talent, writing, and production teams. The first budget line includes costs such as transmission, which amounts to €5 million annually and is structured through a contract with Cellnex. Other budget items include technical equipment and platform investments, signed agreements totaling €7 to €8 million with Toboggan, recently acquired by a group of investors led by Hugo "cija, president of the Ecija law firm.

The remaining budget is dedicated to hiring prominent communicators, including Javier Ruiz, who will serve as director of the new channel, as well as Sarah Santaolalla, Alba Carrillo, and Héctor de Miguel (known as Quequés), who are already part of the project.