Argentina: Time Warner moves closer to purchase of Telefé

Turner International, part of media conglomerate Time Warner, is set to purchase the historic television station Telefé, currently owned by Spain’s Telefónica. Rumors of the deal have circulated for months, with a figures of around $400 to $500 million estimated for the final agreement.

Turner’s interest in the region is not limited to Telefé. In recent months the company has entered talks with the Manzano-Vila group regarding the La Plata province’s channel 2, as well as with Albavisión (Channel 9), owned by Mexican businessman Remigio González. However, the only talks believed to have progressed are the ongoing negotiations with Telefé.

Felipe De Stefani, Turner Argentina’s General Manager, stated that “Of course. TV is changing, and that means one has to diversify. The business of open-access TV is something we’re looking into, although there are no names going around that I can confirm today. But we are willing to jump in, as we have done with Chilevisión in Chile.” Turner International purchased the Chilean station in 2011 for $140 million.

Telefé, the most widely seen open-access network over the past three decades, is Telefónica’s only remaining TV operation, the remainder of a failed venture into broadcasting attempted during the 1990’s. The company operates a total of 9 channels throughout the country, with 1,500 employees. Due to the sector involved and the estimated size of the operation, the deal will have to be approved by the National Communications Regulator (ENACOM) and the recently revived National Commission for the Defence of Competition.

Full content: La Nación

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