Chellomedia has acquired the remaining 50% of Cosmo TV Latin America from Hearst Corporation that it doesn’t already own.
The deal gives Liberty Global’s international content division full control of a channel that reaches more than 10 million cabsat households across the region.
Financial terms were not disclosed but the buy-out is Chello’s second in the territory in as many months, following its purchase of the 50% stake in MGM Latin America not already under its umbrella – part of a bigger deal, handing it a number of MGM-owned networks around the world.
Cosmo TV Latin America is an Argentina-based 24-hour female-skewing Spanish-language channel offering a mix of movies, series and lifestyle programming. It came off the back of the Hearst’s Cosmopolitan magazine brand and, for the time being, the media company remains a stakeholder in similar broadcast operations in Canada and Iberia.
“We are very excited about the opportunities we see in Latin America, through developing new partnerships and identifying new transactions as well as organic growth of the existing portfolio,” said Chellomedia’s recently appointed president Niall Curran.
Cosmo TV will continue to be run as part of Chello’s TV channel portfolio in the Lat Am region, including entertainment and lifestyle channels nets such as MGM Latin America, plus El Gourmet, and Film and Arts TV. The combined bouquet reaches more than 90 million TV households, according to the company.