NEW YORK–(WIRE BUSINESS) – ViacomCBS Inc. (NASDAQ: VIAC, VIACA) announced today that ViacomCBS Networks International (VCNI) has agreed to acquire Chilevis from WarnerMedia, an AT&T division (NYSE: T).
Through the transaction, VCNI further expands its Latin American footprint and strengthens its streaming business with a new premium content library and pipeline to supply growing demand for Spanish-language content across platforms including Paramount + and Pluto TV. The purchase will benefit customers and partners by offering even more diverse entertainment opportunities on premium, pay and free platforms.
The agreement will strengthen and expand the presence of VCNIs in South Latin America by creating a commercial, content and distribution strategy. The acquisition will include the market-leading Chilevisins free on-air television network (FTA), which will complement VCNI’s global content offering. Chilevisin attracted approximately 24 * percent of viewership in 2020. (* 2020 SOV from IBOPE (FTA, total family, 6 am to morning)).
The Chilevisins Library consists of considerable content that spans multiple genres including sports, entertainment, and news, and has great productive capabilities. These attributes, combined with the achievement of Chilevis networks, and a free, paid, and premium content pipeline opening strategy, will serve as a valuable marketing tool for VCNI broadcast platforms in the region and will expand VCNIs studio and linear presence in Region.
Latin America is one of the worlds fastest growing markets in the world, and Chilevisin will be a key driver of our accelerated broadcasting strategy in the region, said Raffaele Annecchino, President and CEO of ViacomCBS Networks International. Chilevisin is a tremendous addition to our existing Latin American business and will strengthen ViacomCBSs’s position as a leading Spanish language content producer.
Chilevisin will fall under the leadership of Juan JC Acosta, President of ViacomCBS International Studios and Networks Americas. The acquisition joins ViacomCBS Americas portfolio, which includes SVOD premium service, Paramount +; fast FAST Pluto TV service; Nickelodeons interactive learning service for preschoolers, Noggin; ViacomCBS International Studios Production Center; FTA Transmitter Telefe; more than 10 branded pay-TV networks, including MTV, Nickelodeon, Nick Jr. and Comedy Central, among others; numerous events and field experiences; and an extensive catalog of consumer products. VCNI Americas has offices in Canada, Mexico, Brazil, Argentina and Colombia.
The purchase price will be financed from ViacomCBS existing cash balances. The transaction is subject to customary regulatory approvals and closing conditions. The financial terms of the transaction were not disclosed.
ViacomCBS International Networks (VCNI)
ViacomCBS Networks International (VCNI), a division of ViacomCBS Inc. (NASDAQ: VIAC), consists of many of the most iconic consumer brands in the world. Its portfolio includes Channel 5, Telefe, Network 10, Nickelodeon, MTV, Comedy Central, BET, Paramount Network, as well as streaming services Paramount + and PlutoTV and ViacomCBS International Studios, among others. In addition to providing innovative streaming services and digital video products, ViacomCBS Networks International offers powerful manufacturing, distribution and advertising solutions capabilities for partners on five continents and in more than 180 countries.
WarnerMedia is a leading media and entertainment company that creates and distributes premium and popular content from a diverse group of talented storytellers and journalists to global audiences through its consumer brands including: HBO, HBO Max, Warner Bros., TNT, TBS, truTV, CNN, DC, New Line, Cartoon Network, Adult Swim, Turner Classic Movies and others. The organization also includes Xandrs kits of advanced advertising solutions designed to help improve advertising for brands, publishers and consumers.
WarnerMedia is part of AT&T Inc. (NYSE: T).