ViacomCBS Networks International (VCNI) has entered into a definitive agreement to acquire a majority stake in the Spanish-language content producer Fox TeleColombia & Estudios TeleMexico from The Walt Disney Co. and the founding family of Fox TeleColombia & Estudios TeleMexico.
ViacomCBS International Studios’ VIS, a division of VCNI, will operate Fox TeleColombia & Estudios TeleMexico as a collaborative partnership with the founding family. The transaction is subject to regulatory approval and customary closing conditions.
Through this transaction, VCNI will gain access to Fox TeleColombia & Estudios TeleMexico’s studio operations in both Colombia and Mexico, as well as many hours of library content, including premium series, telenovelas, films, documentaries, unscripted, kids and family, branded and digital content, and live sports shows produced for various audiences. This content will fuel ViacomCBS’s global streaming platforms including Paramount+ and Pluto TV, and its linear networks around the world, according to the company. Fox TeleColombia & Estudios TeleMexico will also bolster ViacomCBS’ Spanish-language content production capabilities to capitalize on significant content demand in the region and worldwide, the company noted.
“The acquisition of Fox TeleColombia & Estudios TeleMexico, combined with ViacomCBS’s existing Spanish-language portfolio including Telefe and Chilevisión, reinforces the company’s position as a leading worldwide producer of Spanish-language content,” Raffaele Annecchino, president and CEO, ViacomCBS Networks International, said in a statement. “This content will fuel ViacomCBS’ global ecosystem across Paramount+, Pluto TV and its linear networks.”
“This announcement is very fulfilling and I feel very honored that Fox TeleColombia & Estudios TeleMexico will continue its expansion and growth in the hands of such an amazing company as ViacomCBS and its talented and visionary executives,” Samuel Duque Rozo, founder and CEO of Fox TeleColombia & Estudios TeleMexico, said in a statement. “The extraordinary work that our team has made during all these years, combined with ViacomCBS’s vision, iconic brands, experience, professionalism, creativity among much more, will bring nothing less but the best for both businesses.”
Rozo 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 fall under the remit of Juan “JC” Acosta, President of ViacomCBS International Studios and Networks Americas.
The terms of the transaction were not disclosed.