ViacomCBS Completes Acquisition Of Majority Interest In Fox TeleColombia & Estudios TeleMexico

Rhea-AI Summary

ViacomCBS Inc. (NASDAQ: VIAC, VIACA) has finalized its acquisition of a majority stake in Fox TeleColombia & Estudios TeleMexico from The Walt Disney Company. This strategic move aims to enhance ViacomCBS' production capabilities for Spanish-language content, bolstering its offerings on global streaming platforms like Paramount+ and Pluto TV, as well as its linear networks. The acquired firms will operate under ViacomCBS International Studios, led by Samuel Duque Duque. Financial terms of the transaction remain undisclosed.

Positive

• Acquisition enhances Spanish-language content production capabilities.
• Strategic expansion of ViacomCBS International Studios to meet global demand.
• Collaboration with founding family indicates potential for sustained partnership.

Negative

• None.

NEW YORK, Nov. 23, 2021 /PRNewswire/ -- ViacomCBS Inc. (NASDAQ: VIAC, VIACA) today announced that ViacomCBS Networks International (VCNI) has closed the acquisition of a majority stake in the acclaimed Spanish language content producer, Fox TeleColombia & Estudios TeleMexico from The Walt Disney Company.

Fox TeleColombia & Estudios TeleMexico will bolster ViacomCBS' Spanish-language content production capabilities and expand ViacomCBS International Studios', VIS, to capitalize on significant content demand on its global streaming platforms, Paramount+ and Pluto TV, and its linear networks around the world.

VIS will operate Fox TeleColombia & Estudios TeleMexico as a collaborative partnership with the founding family. Samuel Duque Duque 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.  

ViacomCBS Networks International  (VCNI) 
ViacomCBS Networks International (VCNI), a unit of ViacomCBS Inc. (NASDAQ: VIAC, VIACA), comprises many of the world's most iconic consumer brands. Its portfolio includes Channel 5, Telefe, Chilevisión, Network 10, Nickelodeon, MTV, Comedy Central, BET, Paramount Network, streaming services Paramount+ and Pluto TV, and ViacomCBS International Studios, among others. In addition to offering innovative streaming services and digital video products, ViacomCBS Networks International provides robust production, distribution, and advertising solutions for partners on five continents and across more than 180 countries. 

VIAC-IR  

The Walt Disney Company
The Walt Disney Company, together with its subsidiaries and affiliates, is a leading diversified international family entertainment and media enterprise that includes Disney Parks, Experiences and Products; Disney Media & Entertainment Distribution; and three content groups—Studios, General Entertainment and Sports–focused on developing and producing content for DTC, theatrical and linear platforms. Disney is a Dow 30 company and had annual revenues of $65.4 billion in its Fiscal Year 2020. 

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/viacomcbs-completes-acquisition-of-majority-interest-in-fox-telecolombia--estudios-telemexico-301430593.html

SOURCE ViacomCBS Inc.

FAQ

What did ViacomCBS acquire on November 23, 2021?

ViacomCBS acquired a majority stake in Fox TeleColombia & Estudios TeleMexico from The Walt Disney Company.

How will the acquisition affect ViacomCBS' content strategy?

It will bolster ViacomCBS' Spanish-language content production and expand its offerings on Paramount+ and Pluto TV.

Who will lead the operations of Fox TeleColombia & Estudios TeleMexico?

Samuel Duque Duque will lead the operations of the acquired companies.

What is the significance of this acquisition for ViacomCBS?

It expands ViacomCBS' capabilities in Spanish-language content, tapping into a growing demand on global platforms.

Were the financial terms of the acquisition disclosed?

No, the terms of the transaction were not disclosed.