Latin America. ViacomCBS signed a definitive agreement to acquire a majority stake in Fox TeleColombia & Estudios TeleMexico. VIS of ViacomCBS International Studios, a division of VCNI, will operate Fox TeleColombia & Estudios TeleMexico as a collaborative partnership with the founding family.
Through this transaction, VCNI will gain access to fox TeleColombia and Estudios TeleMexico's studio operations in Colombia and Mexico, as well as many hours of library content, which is comprised of multifaceted entertainment spanning several key genres, including premium series, telenovelas, films and unscripted documentaries, for children and families, digital and branded content and live sports programs produced for various audiences.
This content will power ViacomCBS' global streaming platforms, including Paramount+ and Pluto TV, and its linear networks around the world. Fox TeleColombia & Estudios TeleMexico will also strengthen ViacomCBS' Spanish-language content production capabilities to capitalize on significant content demand in the region and around the world. This transaction, combined with VCNI's existing portfolio in Latin America, which includes VIS's studio business and Telefe stations in Argentina and the recently acquired Chilevisión in Chile, will position ViacomCBS as one of the world's leading producers of Spanish-language content.
"The acquisition of Fox TeleColombia & Estudios TeleMexico, combined with ViacomCBS' existing Spanish-language portfolio, which includes Telefe and Chilevisión, reinforces the company's position as the world's leading producer of Spanish-language content," said Raffaele Annecchino, president and CEO of ViacomCBS Networks. International. "This content will power the global ViacomCBS ecosystem across Paramount+, Pluto TV and their linear networks."
Samuel Duque Rozo, Founder and CEO of Fox TeleColombia & Estudios TeleMexico, stated: "This announcement is very gratifying and I am very honored that Fox TeleColombia & Estudios TeleMexico continues its expansion and growth hand in hand with a company as amazing as ViacomCBS and its talented and visionary executives. The extraordinary work our team has done over the years, combined with ViacomCBS' vision, iconic brands, experience, professionalism, creativity among many more, will bring nothing less than the best for both businesses."
Samuel Duque Rozo, Founder and CEO of the company, will continue to exclusively support the business from a creative and strategic advisory position, and Samuel Duque Duque, current President, will lead the business. Fox TeleColombia & Estudios TeleMexico will be under the leadership of Juan "JC" Acosta, president of ViacomCBS International Studios and Networks Americas.
The acquisition joins ViacomCBS' Latin American portfolio, which includes two of the region's most watched free-to-air broadcasters, Telefe in Argentina and Chilevisión in Chile; the premium SVOD service, Paramount+; the best FAST Pluto TV service; ViacomCBS International Studios production centers; YouTube comedy channel and creators, Porta dos Fundos; more than 10 branded Pay-TV networks, including MTV, Nickelodeon, Nick Jr. and Comedy Central, among others; multiple events and experiences on the ground; and an extensive catalogue of consumer products.
The transaction is subject to regulatory approval and customary closing conditions.
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