Varela Entrecanales takes control of La Séptima to avoid a power struggle among partners

Andrés Varela Entrecanales has increased his stake in La Séptima to 65%, becoming the majority shareholder ahead of its launch on November 5. This change follows an agreement with Argentine partner José Luis Manzano, who reduces his share from 45% to 25%. The restructuring aims to establish clear business control and prevent decision-making blockages. Initially, La Séptima was founded with four partners, but as the project progressed, the industrial partners decided they could fund it independently, leading to a renegotiation of shares. Varela's increased stake allows for streamlined decision-making, while Manzano retains a significant role as a financial and industrial partner. The new ownership structure is intended to facilitate the chain's entry into the competitive open television market.