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Press release content from PR Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from PR Newswire
Press release content from PR Newswire. The AP news staff was not involved in its creation.

Grupo Werthein takes ownership of AT&T’s Vrio Corp. business unit

November 15, 2021 GMT

BUENOS AIRES, Argentina, Nov. 15, 2021 /PRNewswire/ -- With the completion of the customary acquisition closing procedures, effective 15th November, Grupo Werthein takes ownership of 100% of the equity of Vrio, leading company on digital entertainment services with more than 10 million subscribers in 11 countries in Latin America and the Caribbean. Vrio offers live content and OnDemand services through DIRECTV Latin America, SKY Brazil and DIRECTV GO.

The acquired business unit provides high-quality entertainment including sporting events, international shows, and exclusive content in Brazil through the SKY brand and in Argentina, Barbados, Chile, Colombia, Curaçao, Ecuador, Peru, Trinidad and Tobago and Uruguay through the DIRECTV brand. DIRECTV GO is an OTT service that provides online access to diverse live and OnDemand programming in Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, and Uruguay.

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The infrastructure acquired by the regionally-expanding private holding company includes satellites and state-of-the-art broadcast centers that deliver a wide variety of content to homes in 4K format. The group also takes ownership of Vrio’s broadband operations, along with holdings in other investments such as Torneos y Competencias in Argentina, and WIN Sports in Colombia.

About Grupo Werthein

Grupo Werthein is a private holding company with a business trajectory of more than 100 years in Latin America and internationally, with extensive experience in telecommunications, financial markets, insurance, agribusiness and real estate.

Grupo Werthein has established a reputation in the market as a robust investor with a value proposition and innovation-based high growth projections.

They have built a diversified and solid portfolio of companies. Their vast experience in different sectors attests to their versatility and solid foundation. They develop profitable and long-term sustainable businesses in an honest and committed way that have the power to positively impact people’s lives.

Their global business vision has allowed them to implement a model that integrates the professional management of traditional companies with the sense of identity and belonging of family-owned businesses, delivering performance in different industry sectors with a high commitment to the community and its culture, based on the values of integrity, transparency and respect. For additional information: www.grupowerthein.com.

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SOURCE AT&T - DIRECTV