ViacomCBS to buy Chilevision from WarnerMedia in Latin America push By Reuters

ViacomCBS to buy Chilevision from WarnerMedia in Latin America push By Reuters

© Reuters. ViacomCBS headquarters in New York, New York

(Reuters) – ViacomCBS (NASDAQ:) Inc said on Monday it had agreed to buy broadcaster Chilevision from AT&T (NYSE:) Inc-owned WarnerMedia for an undisclosed sum, as the media giant looks to boost its streaming audience in Latin America.

The acquisition will bolster ViacomCBS’ Americas portfolio, which includes streaming services Paramount+ and Pluto TV as well as Argentine broadcaster Television Federal SA (Telefe).

Streaming platforms, which witnessed a boom during the COVID-19 pandemic are increasingly investing in content to lure and retain more subscribers amid intense competition.

Chilevision, which airs news shows, talk shows and soap operas, attracted nearly a quarter of Chile’s total television viewership in 2020, according to ViacomCBS.

“Latin America is one of the world’s fastest-growing streaming markets, and Chilevisión will be a key driver of our accelerated streaming strategy in the region,” said Raffaele Annecchino, president and CEO, ViacomCBS Networks International.

In 2010, WarnerMedia – then known as Time Warner Inc (NYSE:) – acquired Chilevision from Chilean President Sebastian Pinera in a deal estimated to have been worth $150 million.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Leave a comment

Send a Comment

Your email address will not be published.

Enter text shown below: