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.
VIAC-IR
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.
