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The acquisition will bolster ViacomCBS’ Americas portfolio, which includes streaming services Paramount+ and Pluto TV as well as Argentine broadcaster Television Federal SA (Telefe).
Streaming platforms, which witnessed a boom during the COVID-19 pandemic are increasingly investing in content to lure and retain more subscribers amid intense competition.
Chilevision, which airs news shows, talk shows and soap operas, attracted nearly a quarter of Chile’s total television viewership in 2020, according to ViacomCBS.
“Latin America is one of the world’s fastest-growing streaming markets, and Chilevisión will be a key driver of our accelerated streaming strategy in the region,” said Raffaele Annecchino, president and CEO, ViacomCBS Networks International.
In 2010, WarnerMedia – then known as Time Warner Inc (NYSE:TWX) – acquired Chilevision from Chilean President Sebastian Pinera in a deal estimated to have been worth $150 million.
