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Viacom acquired Telefé for its talent

With a programming schedule that has more than 70 per cent of its own creations –some 5100 hours a year–, Telefé tempted one of the 5 biggest media companies in the world: Viacom, the international giant that purchased the company for 345 million dollars.

The transaction was announced this month and reconfigures the local media market with the entry of a global player. Viacom owns emblematic channels like Paramount, Nickelodeon, MTV and Comedy Central, and now saw the opportunity in Argentine TV.

Telefé was purchased for its talent

"Only 15 days ago, after a process of approximately 8 months –when several national and international companies disputed their assets-, Telefé was finally acquired by Viacom, one of the 5 more important conglomerates of the media world," explained Juan Waehner, company CEO, when consulted by Argencon.

"It is the first big tangible and concrete investment of this new government,” he said.

"And the explicit reason they argued is that they bought Telefé for its talent, for its generation of ideas and its generation of contents, that they expect to do it now for the world,” added Waehner. "This is a very tangible and concrete proof of the potential we have in Argentina in this sector".

Strengthen its presence in the rest of the world

As highlighted by Viacom in an announcement, the acquisition allows it to incorporate "the biggest local content producer of the country” and strengthen its presence in the rest of the world. It will also add its portfolio of international TV channels and digital platforms.

"Telefe is a valuable television and production business, and this acquisition will serve to accelerate our growth strategy in Argentina, one of the most-advanced media markets of Latin America," held Bob Bakish, president and interim CEO of Viacom in the announcement where the purchaser and seller confirmed the transaction.

And added: "By working together with the successful Telefe team, we can strengthen Telefe’s leading market position in Argentina and expand its presence in the rest of the world with Viacom’s wide global network, until reaching a potential of hundreds of million Spanish-speakers in Latin and North America, in addition to other markets”.

Finally, the giant outlined the channel’s programming, its international presence through Telefé Internacional –the pay-per-view TV channel watched in Latin America with 10 million subscribers in 17 countries–, its multi-platform presence and twelve production studios throughout the country.

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