Paramount sells Argentine broadcaster Telefe to businessman Gustavo Scaglione

Gustavo Scaglione, left, and Darío Turovelzky

Paramount has sold Argentine broadcaster Telefe to a holding company led by local businessman Gustavo Scaglione.

Scaglione is the head of Televisión Litoral and La Capital Multimedios, which both have assets in television, radio and press in different regions of Argentina.

One of Argentina’s largest broadcasters, Telefe’s headquarters are in Buenos Aires, while it has three regional affiliates in Rosario, Santa Fé and Córdoba, an international network called Telefe Internacional and a production studio.

Paramount, then Viacom, acquired Telefe for US$345m in 2016. Between 2022 and 2024 it sold off certain regional affiliate channels including Channel 7 of Neuquén, Channel 8 of Mar del Plata and Channel 8 of Tucumán, the latter to Televisión Litoral.

Scaglione said: “The acquisition of Telefe, a brand deeply rooted in the Argentine cultural identity, seals the beginning of a new stage aimed at the growth and integration of both organisations, with the aim of strengthening production and maximising the competitiveness of the new multiplatform ecosystem that we form.”

Telefe’s CEO Darío Turovelzky, who will continue in his role, said: “The arrival of Gustavo Scaglione gives us a solid platform to scale our business. At Telefe we are committed to leading and creating content that inspires and connects with audiences.

“Being true to our DNA, in this new stage we will continue to challenge the limits of the industry to strengthen our ecosystem and consolidate an innovative management model that drives the development and growth of all the group’s brands.”

Financial details of the acquisition were not disclosed, but Argentine newspaper La Nación, citing sources with knowledge of the transaction, reported a sale price of around US$100m, a significant drop on what Paramount paid for the broadcaster nine years ago.