ViacomCBS edges closer to Chilevision

Chilevision’s hit quizshow Pasapalabra

ViacomCBS in Latin America is closing in on a deal to acquire free-to-air network Chilevision from WarnerMedia, local reports suggest.

The media giant has held advanced talks in the US with WarnerMedia parent company AT&T about the sale, according to Chilean financial news outlet Diario Financiero.

This follows reports earlier this year that the two industry giants were negotiating the transfer of the channel for a fee of between US$14m and US$20m.

The deal would not include CNN Chile and the Canal de Fútbol, which are owned by WarnerMedia subsidiary Turner.

Chilevision is the third oldest channel in Chile and usually ranks third in the ratings, after TVN and Mega. It airs programmes such as quizshow Pasapalabra and talkshow La Noche es Nuestra.

If the deal is finalised, Chilevision will become the second national broadcaster controlled by ViacomCBS in Latin America, alongside Argentinian national broadcaster Telefe.

Chilevision has been under WarnerMedia ownership since 2010, when the US company – then branded Turner Broadcasting System – acquired it for US$140m from local holding company Grupo Bancard.

The price being discussed is significantly lower than the US$345m ViacomCBS paid for Telefe in 2016.