22-03-2025
Activist Hedge Fund Turns Prey as Spanish Media Fight Flares Up
Amber Capital founder Joseph Oughourlian won control of Spain's most influential media group after a shareholder activism campaign a decade ago. Now he's the one fighting off an ouster.
Oughourlian, a French hedge fund manager based in London, is clashing with pro-government Spanish businessmen that want him out of media company Promotora de Informaciones SA, owner of El Pais, the country's best-known newspaper. They're angry, in part, after his relations with the ruling Socialist party unraveled and he blocked the plan for a new pro-government TV station.
