Claxson sells off some parts.
Venezuela-based Claxson is selling its Chilean radio subsidiary to
Spain-based Prisa Group's Grupo Latino de Radiofusion. The sale,
worth the equivalent of $75 million, comes on the heels of the sales of
seven of Claxson's TV channels to Turner Broadcasting System, and
is part of a larger restructuring to take Claxson private.
Claxson, a multimedia company with offices in Buenos Aires and
Miami, distributes branded entertainment content to Spanish and
Portuguese audiences with a programming catalog that includes shows for
pay-TV, broadcast TV, radio, Internet and mobile phones. Markets include
the U.S., Mexico, Argentina, Chile, Brazil, Spain and Portugal.
Claxson's main shareholders are Venezuela's Cisneros
Group, and private equity firm HM Capital--formerly Hicks, Muse, Tate
& Furst.
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