Chile: Prosecutor approves Canal del Futbol – Turner deal

Chile’s National Economic Prosecutor has approved, with certain mitigation measures, the agreement between Turner Broadcasting System (Turner) and the Canal del Fútbol, with a value of US$1.28 billion, granting the media company control over the sports broadcaster for 15 years.

Turner International Latin America would acquire all the shares of Canal del Fútbol, whose owners are the National Association of Professional Football (ANFP) and the TV station Gestión de Televisión Limitada (GTV). Each of the teams that make up the ANFP would receive approximately US$3.1 million dollars in the deal.

The FNE’s decision added that the approval is granted before the end of the legal term, since the analysis has concluded that the deal, subject to the mitigation measures imposed, would not substantially reduce competition.

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