Viacom buys Telefe for $345m
As rumoured in recent days, Viacom has agreed a deal with Spanish telco Telefónica to acquire Televisión Federal (Telefe), one of the main free-to-air channels in Argentina, by Viacom International Media Networks (VIMN). The transaction has been concluded for a total amount of $345 million (€321.6m) in cash.
The transaction adds one of Argentina’s most popular television networks and biggest content producers to Viacom’s fast-growing portfolio of international TV networks and digital properties. Telefe reaches 95 per cent of all households in Argentina, a country of 43 million, and has attracted approximately 33 per cent share of viewership year-to-date in 2016.
The network produces more than 3,000 hours of Spanish-language video content each year, including seven of the top 10 programmes currently airing locally, and has a library of 33,000 hours of local content. By combining Telefe with Viacom’s popular pay-TV networks, which include MTV, Nickelodeon, Comedy Central and Paramount Channel, this deal further strengthens VIMN’s position in Argentina and Latin America.
