ViacomCBS Inc. (NASDAQ: VIAC) has announced that ViacomCBS Networks International acquired a majority stake in Fox TeleColombia and Estudios TeleMexico from The Walt Disney Company (NYSE: DIS). ViacomCBS International Studios’ VIS will operate as a collaborative partnership with the founding family.
ViacomCBS Networks International will gain access to studio operations in both Colombia and Mexico, as well as library content. The hours of library content includes premium series, telenovelas, films, documentaries, kids and family programs and live sports shows.
“The acquisition of Fox TeleColombia & Estudios TeleMexico, combined with ViacomCBS’ existing Spanish-language portfolio including Telefe and Chilevisión, reinforces the company’s position as a leading worldwide producer of Spanish-language content,” said Raffaele Annecchino, president and CEO at ViacomCBS Networks International.