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Playboy TV in new international deal

By BroadCasting & Cable Staff -- Broadcasting & Cable, 12/27/2002 6:07:00 AM

Playboy Entertainment Group Inc. and Claxson Interactive Inc. Friday announced the completion a new deal replacing their joint venture, Playboy TV International LLC (PTVI).

Under the new agreement, Playboy's equity in the venture's international networks and television distribution outside of Latin America and Iberia increases to 100 percent from 19.9 percent, in exchange for Claxson's release from future library and programming payments, the companies said.

Claxson and Playboy retain their existing 81-19 respective ownership splits in Playboy TV Latin America and Iberia (PTVLA).

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