Spain’s labor market faces a new challenge as Mediapro, one of the country’s leading media groups, announces a major restructuring that will result in the dismissal of around 250 employees. This move follows recent leadership changes and the loss of a key sports contract, potentially impacting sector stability and sparking debate among industry professionals.
According to El Pais, following the departure of Tatxo Benet as president and the appointment of Sergio Oslé as executive chairman, the company began to review its strategy. The new management has already informed unions of its intention to initiate a collective redundancy procedure affecting about 3.5% of the workforce—approximately 250 out of 7,000 employees.
The drastic measures were triggered by the loss of a primary revenue stream: Mediapro failed to renew its contract to broadcast Spanish football league matches for the 2028/2029 season. This marked a turning point for the company, which had previously built its business around managing sports rights. In recent years, Mediapro has been working to diversify its operations, strengthening its position in audiovisual content production and expanding into new areas.
Structural changes
Since the beginning of the year, the company has seen significant personnel changes. Key top managers were replaced, including Julián Fernández, Miguel Cardenal, and Joaquim Triadú. The new team, led by Oslé and CEO Carlos Núñez, has begun reviewing all business lines to return Mediapro to profitability.
The company’s revenue structure has changed noticeably. While sports rights previously accounted for up to 40% of turnover, their share has now fallen to 20%. The main contribution now comes from the Broadcasting Media Services segment—event broadcasting and post-production services—which currently generates 45% of the income. Another 20% comes from channel and platform management, and 15% from The Mediapro Studio’s in-house content production.
Financial results for 2024 proved alarming: revenue declined by 11% to €1.069 billion, while net loss reached €79 million. The main issue remains the debt, which stands at around €500 million and raises concerns among investors and ratings agencies. Moody’s recently downgraded Mediapro’s credit rating despite successful debt restructuring and an extension of the repayment timeline to 2029.
The market and consequences
The decision to cut staff has already raised concerns among employees and trade unions. As Spain’s labor market faces new challenges, such news prompts debate about the future of the audiovisual sector. According to El Pais, Mediapro management emphasizes that a review of all business areas is essential to adapt to new realities and return to sustainable growth.
The company was founded in Barcelona 30 years ago by Gerard Romy and Jaume Roures, who left the business in 2018 and 2023 respectively. Over the years, Mediapro has become one of the key players in sports broadcasting and audiovisual production. However, recent events show that even large companies are not immune to sudden changes.
In this context, it is worth recalling how court decisions and financial disputes can affect major organizations. For instance, the Supreme Court of Spain recently drew attention due to a dispute over legal costs, which also sparked debate among experts — you can read more about this in the article about the dispute over legal costs in Spain.
Context and trends
In recent years, Spain has already faced similar cases of mass layoffs at major companies. For example, in 2025, several well-known service sector enterprises announced restructuring and job cuts, sparking a wave of protests and public debate. Experts note that such processes are often linked to market changes, the loss of key contracts, or the need to adapt to new economic conditions. These events indicate shifts in the country’s economy and demand attention from both businesses and government authorities.
