ViacomCBS to purchase Chilevision from WarnerMedia in Latin America push By Reuters
© Reuters. ViacomCBS headquarters in New York, New York
(Reuters) – ViacomCBS (NASDAQ:) Inc stated on Monday it had agreed to purchase broadcaster Chilevision from AT&T (NYSE:) Inc-owned WarnerMedia for an undisclosed sum, because the media large appears to be like to spice up its streaming viewers in Latin America.
The acquisition will bolster ViacomCBS’ Americas portfolio, which incorporates streaming companies Paramount+ and Pluto TV in addition to Argentine broadcaster Tv Federal SA (Telefe).
Streaming platforms, which witnessed a growth throughout the COVID-19 pandemic are more and more investing in content material to lure and retain extra subscribers amid intense competitors.
Chilevision, which airs information reveals, speak reveals and cleaning soap operas, attracted practically 1 / 4 of Chile’s whole tv viewership in 2020, in accordance with ViacomCBS.
“Latin America is among the world’s fastest-growing streaming markets, and Chilevisión might be a key driver of our accelerated streaming technique within the area,” stated Raffaele Annecchino, president and CEO, ViacomCBS Networks Worldwide.
In 2010, WarnerMedia – then referred to as Time Warner Inc (NYSE:) – acquired Chilevision from Chilean President Sebastian Pinera in a deal estimated to have been value $150 million.
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