ViacomCBS is to expand its Spanish-language efforts after striking a deal to acquire a majority stake in Fox TeleColombia & Estudios TeleMexico from its founding family and Disney.
The acquisition will in one swoop hand VCNI rights to thousands of hours of Spanish-language programming including scripted series, telenovelas, films, documentaries, unscripted, kids and family.
This will be used to fuel ViacomCBS’s global streaming platforms including Paramount+ and Pluto TV, as well as its global linear networks.
The deal, which has been agreed via the US media giant’s ViacomCBS Networks International (VCNI) division, will also expand its Spanish-language production capabilities by handing it access to Fox TeleColombia & Estudios TeleMexico’s studio operations in both Colombia and Mexico.
ViacomCBS, which already owns Telefe in Argentina and recently completed its acquisition of Chilevisión in Chile, will operate Fox TeleColombia & Estudios TeleMexico through its ViacomCBS International Studios (VIS) arm and in “a collaborative partnership” with its founding family.
The deal marks another step in ViacomCBS’s attempts to ramp up its reach in Latin America, where it already operates free-to-air broadcasters Telefe and Chilevisión, alongside regional versions of its pay TV networks such as MTV, Nickelodeon and Comedy Central. It has also launched streamer Paramount+ in the region earlier this year, as well as FAST service Pluto TV.
Production interests include ViacomCBS International Studios’ regional production hubs, YouTube Porta dos Fundos.
Samuel Duque Rozo, founder & CEO of Fox TeleColombia & Estudios TeleMexico, will remain in a “creative and strategic advisory position”, with president Samuel Duque Duque leading the business, which will fall under the remit of JC Acosta, president of ViacomCBS International Studios and Networks Americas.
Raffaele Annecchino, president & CEO at VCNI, said the deal would “reinforce the company’s position as a leading worldwide producer of Spanish-language content”.
Duque Rozo added: “The extraordinary work that our team has made during all these years, combined with ViacomCBS’ vision, iconic brands, experience, professionalism, creativity among much more, will bring nothing less but the best for both businesses.”
Financial details have not be revealed and the deal remains subject to regulatory approval.