Indebted Spanish media company Promotora de Informaciones SA has weighed filing for chapter 11 protection in the U.S., the Wall Street Journal reported today. The possible move by Prisa, as the company is known, comes as it seeks to refinance about $3 billion of debt. It is unclear whether a chapter 11 filing is still under serious discussion or when a final decision will be made. Prisa, owner of the influential El País newspaper, is racking up losses amid a challenging climate for media companies in Europe and elsewhere, high financing expenses for the company and a sluggish Spanish economy.
