In November 2010, Juan Luis Cebrián, the founding editor of El País, and CEO of the Prisa Group, the media empire to which the newspaper belongs, announced the sale of 70 percent of Prisa for €900 million to a New York-based investment group The reason for the sale was a €4.7-billion debt he had created after an expensive foray into pay-TV was followed by the financial crisis and a downturn in advertising. At the time of the sale, Prisa’s debt was more than 12 times its withered stock market value. The sale spelled the end of Cebrián and the Polanco family’s control of Spain’s leading media group, which had been founded on the success of El País over more than three decades. "Better 30 … [Read more...] about Juan Luis Cebrián: last man standing?