ViacomCBS Networks International (VCNI) has agreed to acquire a majority stake in Fox TeleColombia & Estudios TeleMexico from Disney and the studio’s founding family.
ViacomCBS International Studios' VIS, a division of VCNI, will operate Fox TeleColombia & Estudios TeleMexico as a collaborative partnership with the founding family. The financial terms of the deal, which is subject to regulatory approval, were not disclosed.
For ViacomCBS, the deal is about boosting the Spanish-language content lineup available to its streaming services including Paramount+ and Pluto TV along with its linear networks. VCNI will get access to Fox TeleColombia & Estudios TeleMexico's studio operations in both Colombia and Mexico along with the studio’s library content including scripted series, telenovelas, films, documentaries, unscripted, kids and family, branded and digital content, and live sports shows.
VCNI's existing portfolio in Latin America includes VIS' studio business and broadcasters Telefe in Argentina and the recently acquired Chilevisión in Chile.
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"The acquisition of Fox TeleColombia & Estudios TeleMexico, combined with ViacomCBS' existing Spanish-language portfolio including Telefe and Chilevisión, reinforces the company's position as a leading worldwide producer of Spanish-language content," said Raffaele Annecchino, president and CEO of ViacomCBS Networks International, 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,” said Samuel Duque Rozo, founder and CEO of Fox TeleColombia & Estudios TeleMexico, in a statement. “The extraordinary work that our team has made during all these years, combined with ViacomCBS' vision, iconic brands, experience, professionalism, creativity among much more, will bring nothing less but the best for both businesses."
Duque Rozo will continue to serve in a creative and strategic advisory position, and Samuel Duque Duque, current president, will lead the business. Fox TeleColombia & Estudios TeleMexico will be overseen by Juan "JC" Acosta, president of ViacomCBS International Studios and Networks Americas.