ViacomCBS to Acquire Majority Interest in Fox TeleColombia & Estudios TeleMexico
NEW YORK, Oct. 28, 2021 /PRNewswire/ -- ViacomCBS Inc. (NASDAQ: VIAC, VIACA) today announced that ViacomCBS Networks International (VCNI) has entered into a definitive agreement to acquire a majority stake in the acclaimed Spanish language content producer, Fox TeleColombia & Estudios TeleMexico from The Walt Disney Company (NYSE:DIS) and the founding family of Fox TeleColombia & Estudios TeleMexico. ViacomCBS International Studios’ VIS, a division of VCNI, will operate Fox TeleColombia & Estudios TeleMexico as a collaborative partnership with the founding family. The transaction is subject to regulatory approval and customary closing conditions.
Through this transaction, VCNI will 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. 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. This transaction combined with VCNI’s existing portfolio in Latin America, which includes VIS’ studio business and broadcasters Telefe in Argentina and the recently acquired Chilevisión in Chile, will position ViacomCBS as one of the leading Spanish-language content production companies in the world.
“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.”
Samuel Duque Rozo, Founder and CEO of Fox TeleColombia & Estudios TeleMexico, stated: “This announcement is very fulfilling and I feel very honored that Fox TeleColombia & Estudios TeleMexico will continue its expansion and growth in the hands of such an amazing company as ViacomCBS and its talented and visionary executives. The extraordinary work that our team has made during all these years, combined with ViacomCBS’ vision, iconic brands, experience, professionalism, creativity among much more, will bring nothing less but the best for both businesses.”
Samuel Duque Rozo, Founder and CEO of the company, will continue to exclusively support the business from a creative and strategic advisory position, and Samuel Duque Duque, current President, will lead the business. Fox TeleColombia & Estudios TeleMexico will fall under the remit of Juan “JC” Acosta, President of ViacomCBS International Studios and Networks Americas. The acquisition joins ViacomCBS’ Latin American portfolio, which includes two of the region’s most-watched free-to-air broadcasters, Telefe in Argentina and Chilevisión in Chile; the premium SVOD service, Paramount+; top FAST service Pluto TV; ViacomCBS International Studios production hubs; comedy YouTube channel and creators, Porta dos Fundos; more than 10 branded pay TV networks, including MTV, Nickelodeon, Nick Jr. and Comedy Central, among others; multiple on-the-ground events and experiences; and an extensive consumer products catalogue.
The terms of the transaction were not disclosed.
ViacomCBS Networks International (VCNI)
ViacomCBS Networks International (VCNI), a unit of ViacomCBS Inc. (NASDAQ: VIAC, VIACA), comprises 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 innovative streaming services and digital video products, ViacomCBS Networks International provides robust production, distribution, and advertising solutions for partners on five continents and across more than 180 countries.
The Walt Disney Company
The Walt Disney Company, together with its subsidiaries and affiliates, is a leading diversified international family entertainment and media enterprise that includes Disney Parks, Experiences and Products; Disney Media & Entertainment Distribution; 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 in its Fiscal Year 2020.
View original content to download multimedia: https://www.prnewswire.com/news-releases/viacomcbs-to-acquire-majority-interest-in-fox-telecolombia--estudios-telemexico-301411055.html
SOURCE ViacomCBS Inc.