ViacomCBS Networks International April 5 announced it has agreed to acquire Chilevisión from WarnerMedia. Through the transaction, VCNI further expands its footprint in Latin America and bolsters its streaming business with a new premium content library and pipeline to fuel the increasing demand for Spanish language content across platforms, including Paramount+ and FAST platform Pluto TV.
The purchase price will be financed by ViacomCBS’s existing cash balances. The transaction is subject to customary regulatory approvals and closing conditions. Financial terms of the transaction were not disclosed.
The acquisition includes Chilevisión’s free-to-air television network, which generated about 24% share of viewership in the region in 2020. Chilevisión’s library is comprised of content spanning multiple genres, including sports, entertainment and news, and it has vast production capabilities.
“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,” Raffaele Annecchino, CEO of ViacomCBS Networks International, said in a statement.
Chilevisión will fall under the leadership of Juan Acosta, president of ViacomCBS International Studios and Networks Americas. The acquisition joins the ViacomCBS Americas portfolio, which includes Paramount+; Pluto TV; Nickelodeon’s interactive learning service for preschoolers, Noggin; ViacomCBS International Studios production hub; FTA broadcaster Telefe; and more than 10 branded pay-TV networks, including MTV, Nickelodeon, Nick Jr. and Comedy Central, among others.
VCNI Americas has offices in Canada, Mexico, Brazil, Argentina and Colombia.