Viacom buys Television Federal, a Spanish-language television company in Argentina for $345 million.
Two main attraction for Viacom in the deal were Television Federal offerings of more than 33,000 hours of content of Spanish-language programming and Television Federal’s reach to 95% of all households in Argentina (based on Viacom’s remark). In a country of 43 million, that is a huge number.
The company said that the Argentine channels will be combined with Viacom’s pay-TV networks in South America, which include MTV, Nickelodeon, Nick Jr., Comedy Central and the Paramount channel.
Television Federal is an Argentine television broadcasting service. The company also offers radio and film production services. It is based in Buenos Aires, Argentina and was launched in 1989.
Viacom is an American media conglomerate with interests primarily in cinema and cable television. It is currently the world’s sixth largest broadcasting and cable company in terms of revenue, behind Comcast, The Walt Disney Company, Time Warner, 21st Century Fox and CBS Corporation, respectively.
Voting control of Viacom is held by National Amusements, Inc., a privately owned theater company controlled by the billionaire Sumner Redstone. Redstone also holds via National Amusements a controlling stake in CBS Corporation.