ViacomCBS completes the acquisition of a majority stake in Fox TeleColombia & Estudios TeleMexico
NEW YORK, 23 November 2021 / PRNewswire / – ViacomCBS Inc. (NASDAQ: VIAC, VIACA) today announced that ViacomCBS Networks International (VCNI) has completed the acquisition of a controlling stake in acclaimed Spanish-language content producer, Fox TeleColombia & Estudios TeleMexico from The Walt Disney Company.
Fox TeleColombia & Estudios TeleMexico will strengthen ViacomCBS Spanish language content production capabilities and expand ViacomCBS International Studios, VIS, to capitalize on significant content demand on its global streaming platforms, Paramount + and Pluto TV, and linear networks at worldwide.
VIS will operate Fox TeleColombia & Estudios TeleMexico as part of a collaborative partnership with the founding family. Samuel Duque Duque will lead the company. Fox TeleColombia & Estudios TeleMexico will report to Juan “JC” Acosta, President of ViacomCBS International Studios and Networks Americas.
Terms of the transaction were not disclosed.
Viacom CBS Networks International (VCNI)
ViacomCBS Networks International (VCNI), a unit of ViacomCBS Inc. (NASDAQ: VIAC, VIACA), includes many of the world’s most iconic consumer brands. Its portfolio includes Channel 5, Telefe, Chilevisión, Network 10, Nickelodeon, MTV, Comedy Central, BET, Paramount Network, streaming services Paramount + and Pluto TV, and ViacomCBS International Studios, among others. In addition to offering streaming services and innovative digital video products, ViacomCBS Networks International provides robust production, distribution and advertising solutions to partners on five continents and in more than 180 countries.
The Walt Disney Company
The Walt Disney Company, along with its subsidiaries and affiliates, is a diverse international family entertainment and media company that includes Disney parks, experiences and products; Distribution of Disney media and entertainment; and three content groups – Studios, General Entertainment and Sports – focused on developing and producing content for DTC, theatrical and linear platforms. Disney is a Dow 30 company and had annual revenues of $ 65.4 billion during its 2020 financial year.
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SOURCE ViacomCBS Inc.