ViacomCBS Networks International has agreed to acquire Chilevisión from AT&T’s WarnerMedia for an undisclosed sum, expanding its footprint in Latin America.
The deal will bolster VCNI’s streaming business with a new premium library and pipeline to fuel increasing demand for Spanish language content across platforms including the recently-launched Paramount+ and Pluto TV.
Financial terms weren’t disclosed. Parent ViacomCBS said the purchase will be financed by existing cash balances.
The acquisition includes Chilevisión’s free-to-air television network, which attracted an approximate 24% share of viewership in 2020, VCNI said. Chilevisión’s library spans sports, entertainment and news and it has significant production capabilities. Its reach and a windowing strategy of its content pipeline through free, paid, and premium will serve as a valuable marketing vehicle for VCNI’s streaming platforms, studio and linear presence in the region, VCNI said.
“Latin America is one of the world’s fastest-growing streaming markets, and Chilevisión will be a key driver of our accelerated streaming strategy in the region,” said Raffaele Annecchino, CEO of ViacomCBS Networks International. “Chilevisión is an extraordinary addition to our existing business in Latin America and will fortify ViacomCBS’s position as a premier Spanish language content producer.”
Chilevisión will be headed by Juan “JC” Acosta, president of ViacomCBS International Studios and Networks Americas.
ViacomCBS Americas portfolio includes Paramount+; Pluto TV; Nickelodeon’s Noggin; ViacomCBS International Studios production hub; FTA broadcaster Telefe; more than 10 branded pay TV networks, including MTV, Nickelodeon, Nick Jr. and Comedy Central; multiple on-the-ground events and experiences; and an extensive consumer products catalogue.
VCNI Americas has offices in Canada, Mexico, Brazil, Argentina and Colombia.