Turner Closes Deal for Latin American Networks
Argentina’s Comisión Nacional de Defensa de la Competencia Approves Acquisition from Claxson
By B&C Staff -- Broadcasting & Cable, 10/4/2007 8:58:00 AM MT
Argentina’s Comisión Nacional de Defensa de la Competencia approved Turner Broadcasting System’s acquisition of seven Latin American pay television networks from Claxson, Turner announced Thursday.
TBS Latin America and its president, Juan Carlos Urdaneta, will operate the networks: Fashion TV, HTV, Infinito, I.Sat, MuchMusic, Retro and Space.
The transaction was valued at approximately $234 million.
Under terms of the pact, TBS Latin America will also assume sales-representation rights for Claxson- and third-party-owned networks in Latin America and provide related technical services.
Turner’s Latin America portfolio now includes 13 wholly owned networks and 10 represented networks.
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