ViacomCBS Chilevision Deal With WarnerMedia – The Hollywood Reporter
ViacomCBS Networks International of ViacomCBS has completed the acquisition of Chilevision in Chile from WarnerMedia of AT & T, thereby expanding its business in Spanish.
Financial terms of the deal were not disclosed.
The deal includes Chilevision’s free-to-air television network, which the companies say has been the country’s most-watched channel since the start of the year, with the company’s “substantial” library of content spanning genres such as sport, entertainment and current affairs, as well as its “vast production capacities”.
ViacomCBS stated that “these attributes, the reach of the Chilevisión network, and a strategy of windowing its content pipeline through free, paid and premium content will serve as a valuable marketing vehicle for the Spanish-speaking ecosystem of ViacomCBS Networks International and grow. will develop [its] studio, streaming and linear presence in the region.
Chilevision will report to Juan “JC” Acosta, President of ViacomCBS International Studios and Networks Americas. Additional management appointments will be made soon, the company said.
The deal, first announced in April, comes at a time when more and more content companies are looking to serve the burgeoning Hispanic TV market in the United States and have their eye on opportunities to growth in Latin America.
“Our investment in Chilevisión strategically expands ViacomCBS’s global ecosystem, strengthening our position as a leading producer of Spanish-language content,” said Raffaele Annecchino, President and CEO of ViacomCBS Networks International. “As we rapidly expand our streaming services around the world, we have seen the power that our free channels like Telefe in Argentina, Network 10 in Australia and Channel 5 in the UK have to power Paramount + and Pluto TV. Spanning all platforms and prices, our diverse ecosystem is what continues to set ViacomCBS apart in the streaming landscape as we drive subscribers to our platforms and connect audiences with more premium and original content. “
The executive previously noted that “Latin America is one of the fastest growing streaming markets in the world, and Chilevisión will be a key driver of our accelerated streaming strategy in the region.”
For AT&T, the sale continues its recent focus on selling non-core assets to repay debt.