The American multinational media ViacomCBS has agreed to acquire Chilevision from AT&T Inc- owned WarnerMedia , as it looks to improve its streaming audience in latin America.
Chilevisión (often abbreviated as CHV) is a Chilean free-to-air television channel. It is the third oldest Chilean television network.
Founded by the University of Chile, this educational institution sold a significant percentage of its TV channel to Grupo Cisneros, changing its name to Chilevisión.
WarnerMedia then known as Time Warner in 2010 acquired Chilevision from Chilean President Sebastian Pinera in a deal estimated to have been worth $150 million.
Its portfolio includes Channel 5, Telefe, Network 10, Nickelodeon, MTV, Comedy Central, BET, Paramount Network, as well as streaming services Paramount+ and PlutoTV, and ViacomCBS International Studios, among others.
In addition to offering innovative streaming services and digital video products, ViacomCBS Networks International provides powerful capabilities in production, distribution and advertising solutions for partners on five continents and across more than 180 countries.
Raffaele Annecchino, The President and Chief Executive Officer of ViacomCBS Networks International said
“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.
“Chilevisión is an extraordinary addition to our existing business in Latin America and will fortify ViacomCBS’s position as a premier Spanish language content producer.”
The deal will expand and strengthen VCNI’s presence in the Southern Cone of Latin America by creating an aligned commercial, content and distribution strategy.
The acquisition will include Chilevisión’s market leading free-to-air (FTA) television network, which will complement VCNI’s global content offering.
The purchase price of the acquisition will be financed by ViacomCBS’s existing cash balances. The transaction is subject to customary regulatory approvals and closing conditions. Financial terms of the transaction were not disclosed.
