Turner Buying Latin American Nets
Turner Broadcasting System is buying seven pay TV networks in Latin America from Claxson Interactive Group for about $235 million, the companies said.
The deal will expand the TBS Latin America portfolio to 13 wholly owned networks and 10 represented networks, the company said.
Turner is buying Fashion TV, HTV, Infinito, I.Sat, MuchMusic, Retro and Space. The company will also handle ad sales and perform technical services for the Claxson networks, which reach a combined 51 million subscribers, the companies added.
Other Turner properties in the region include CNN International, TNT, Cartoon Network, CNN en Español, Boomerang and TCM Classic Hollywood, reaching a collective 85 million households in the region.
Claxson's principal owners are Cisneros Group of Cos. and funds associated with Hicks, Muse, Tate & Furst. Turner is owned by Time Warner.
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