ViacomCBS’ ViacomCBS Networks International unit has entered a definitive agreement to acquire a majority stake in Spanish-language content producer Fox TeleColombia & Estudios TeleMexico from the Walt Disney Co. and the founding family of the company.
Combined with the conglomerate’s existing portfolio in Latin America, including its studio business and broadcasters Telefe in Argentina and the recently acquired Chilevisión in Chile,
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“ViacomCBS International Studios’ VIS, a division of VCNI, will operate Fox TeleColombia & Estudios TeleMexico as a collaborative partnership with the founding family,” it said without disclosing financial and other terms. “The transaction is subject to regulatory approval and customary closing conditions.”
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ViacomCBS, led by CEO Bob Bakish, said it would gain access to Fox TeleColombia & Estudios TeleMexico’s studio operations in both Colombia and Mexico, “as well as many hours of library content, which is comprised of multifaceted entertainment spanning multiple key genres including premium series, telenovelas, films, documentaries, unscripted, kids and family, branded and digital content and live sports shows produced for various audiences.”
It added: “This content will fuel ViacomCBS’ global streaming platforms including Paramount+ and Pluto TV, and its linear networks around the world. Fox TeleColombia & Estudios TeleMexico will also bolster ViacomCBS’ Spanish-language content production capabilities to capitalize on significant content demand in the region and worldwide.”
“The acquisition of Fox TeleColombia & Estudios TeleMexico, combined with ViacomCBS’ existing Spanish-language portfolio including Telefe and Chilevisión, reinforces the company’s position as a leading worldwide producer of Spanish-language content,” said Raffaele Annecchino, president and CEO, ViacomCBS Networks International. “This content will fuel ViacomCBS’ global ecosystem across Paramount+, Pluto TV and its linear networks.”
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