Telefonica Reorganizes Spanish Business, Abolishes Movistar+ Board

Telefonica's board approved a reorganization of its Spanish operations into three commercial units and dissolved Movistar+'s standalone governance board. The move comes three months after that board approved doubling the platform's content budget from €100 million to €200 million.

• Movistar+ loses its standalone board, folded into B2C España
• Content budget doubled from €100 million to €200 million
• Movistar+ has 3.88 million subscribers, its highest since 2021
• Telefonica Tech will be fully absorbed into B2B España