Joseph Oughourlian, the president and majority shareholder of Grupo Prisa, has been appointed president of the Spanish newspaper El País. This decision intensifies the ongoing battle for control of the media group against Spanish shareholders, who are reportedly supported by the government of Prime Minister Pedro Sánchez.

Oughourlian replaces Carlos Núñez, the former president of Prisa Media, who was dismissed during a board meeting on February 26, 2025. The dismissal was reportedly linked to Núñez’s opposition to a proposal to launch a new free-to-air television channel, amid a competition held by the government for the allocation of a new broadcasting license.

Oughourlian also appointed Pilar Gil, currently the Vice President of Prisa, as the CEO of El País. Gil, who has been with Prisa since June 2023 and has been managing financial negotiations, is currently facing challenges in securing the acceptance of a debt refinancing proposal with Pimco, the group’s main creditor.

In a commitment to uphold the founding principles of El País, Oughourlian has asserted that there will not be a significant ideological shift at the newspaper.

However, there are expectations for strategical changes in the leadership of the publication, particularly regarding its current director, Pepa Bueno.

Following the dismissals of Núñez and José Miguel Contreras, the group's editorial director and Moncloa communications advisor, Oughourlian’s strategic goal appears focused on gaining total control of El País and the broader media landscape of Grupo Prisa, which previously had significant oversight from Contreras.

Oughourlian's next move may involve reducing the number of board members from the current 15 to eliminate seats held by Spanish shareholders allied with Sánchez, particularly targeting Andrés Varela Entrecanales, who represents Global Alconaba, holding 7.4% of Prisa.

The backdrop to Oughourlian's presidency at El País is a looming shareholders' meeting scheduled for June 2025, where Spanish shareholders are seeking to attain 51% of the votes to oust the French investor.

A critical factor in this dynamics involves Vivendi, the French media group, which holds a 12% stake in Prisa.

The Spanish government has restricted Vivendi from increasing its ownership stake above 29.9%, which complicates the Spanish coalition's market maneuver.

To challenge Oughourlian’s influence effectively, the Spanish shareholders are garnering support from several financial entities, including Banco Santander with a stake of 4.2%, the Polanco family at 7%, and efforts to engage Carlos Slim, who also holds 7%.

Efforts to persuade Vivendi to reconsider its traditional support for Oughourlian are underway, with discussions initiated by Minister Óscar López during a meeting in Paris with Arnaud de Puyfontaine, the deputy of the French group.

López has publicly noted that discussions were limited and did not focus on altering the current shareholder landscape of Prisa.