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Viacom has $345M deal for Argentina's Telefe

Published 11/15/2016, 12:25 PM
Updated 11/15/2016, 12:25 PM
Viacom has $345M deal for Argentina's Telefe
  • Viacom (VIA -0.9%, VIAB -0.9%) has a deal to acquire Argentina's Television Federal from Telefonica (MC:TEF) (TEF -3.7%), for $345M.
  • The deal's all cash. Reports from two weeks ago had the two talking about a deal in the range of $385M.
  • Viacom gets an "outstanding broadcast and production business" in the deal, says acting CEO Bob Bakish, who came up through the company's international ranks.
  • Telefe hits 95% of households in Argentina, which has a population of 43M, and has a 33% viewership share. It also makes more than 3,000 hours of Spanish-language content each year.

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