News
Claxson Sells IberoAmerican Radio Chile to Prisa
BUENOS AIRES, Argentina & MIAMI-(Business Wire)-August 2, 2007 - Claxson (Pink Sheets:XSONF), the multimedia company that provides and distributes branded entertainment content to Spanish and Portuguese audiences around the world, announced that on July 31, 2007, after obtaining regulatory approval by Chilean antitrust authorities the company closed the sale of IberoAmerican Radio Chile to Grupo Latino de Radiodifusion, an affiliate of Prisa Group.
As a result of this transaction, all radio networks of IberoAmerican Radio Chile (Pudahuel FM, Rock & Pop, Corazon, FM Dos, Concierto, Futuro, FM Hit and Imagina) will be controlled by Grupo Latino de Radiodifusion. The total purchase price for IberoAmerican Radio Chile was US $74.6 Million.
"We are very pleased about this transaction with Prisa Group. I believe that the management of IberoAmerican Radio Chile has played a key role in the success of the radio networks and the creation of shareholder value. I am very proud to have worked with them all these years," said Roberto Vivo, Claxson's Chairman and CEO.
About Claxson
Claxson Interactive Group, Inc. (Pink Sheets:XSONF) is a multimedia company that provides and distributes branded entertainment content to Spanish and Portuguese audiences around the world. The company has a portfolio of branded entertainment options distributed on multiple platforms, including pay TV, radio and Internet. The company's headquarters are located in Buenos Aires and Miami, and it has a presence in the U.S. and all major Latin American and Iberian countries, including Argentina, Mexico, Chile, Brazil, Spain and Portugal, among others. Claxson's principal shareholders are the Cisneros Group of Companies and funds affiliated with Hicks, Muse, Tate & Furst Inc.
