Wednesday 24 November 2021

ViacomCBS Networks International (VCNI), a unit of New York-based media and distribution company ViacomCBS Inc. (NASDAQ: VIAC) (NASDAQ: VIACA) has closed the acquisition of a majority stake in the Fox TeleColombia and Estudios TeleMexico, a Spanish language content producer, from The Walt Disney Company (NYSE: DIS) and the founding family of Fox TeleColombia and Estudios TeleMexico, the company said.

The terms of the transaction were not disclosed.

ViacomCBS International Studios' VIS, a division of VCNI, will operate Fox TeleColombia and 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 and Estudios TeleMexico's studio operations in both Colombia and Mexico, as library content, which is comprised of multifaceted entertainment spanning multiple key genres 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' global streaming platforms including Paramount+ and Pluto TV, and its linear networks around the world.

Fox TeleColombia and Estudios TeleMexico will also bolster ViacomCBS' Spanish language content production capabilities to capitalise on significant content demand in the region and worldwide.

This transaction combined with VCNI's existing portfolio in Latin America, which includes VIS' studio business and broadcasters Telefe in Argentina and the recently acquired Chilevisión in Chile, will position ViacomCBS as one of the leading Spanish-language content production companies in the world.

ViacomCBS Networks International, a unit of ViacomCBS Inc. (NASDAQ: VIAC, VIACA), comprises consumer brands in a portfolio that 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.