Claxson and Prisa Reach Agreement for the Sale of IberoAmerican Radio Chile.SANTIAGO DE CHILE -- Claxson (Pink Sheets:XSONF), the multimedia company that provides and distributes branded entertainment Branded Entertainment, also known as Branded content or Advertainment, is the combination of an audio-visual program (TV, radio, podcast, etc.) and a brand. It can be initiated either by the brand or by the broadcaster. content to Spanish and Portuguese audiences around the world, announced today that it has entered into an agreement to sell the shares of its subsidiary, IberoAmerican Radio Chile, S.A., that holds the group of radio networks known as "IberoAmerican Radio Chile," to Grupo Latino de Radiodifusion, an affiliate of Union Radio, owned by Prisa Group. As a result of this agreement, all the radios of IberoAmerican Radio Chile (Pudahuel FM, Rock & Pop, Corazon, FM Dos, Concierto, Futuro, FM Hit and Imagina) will be owned by Grupo Latino de Radiodifusion. The price for the sale of the radio company is US$ 75MM, minus the financial debt under certain syndicated credit facility held by IberoAmerican Radio Chile, S.A. as of the closing date. Closing of the transaction is subject to regulatory approval by the Anti-trust Tribunal in Chile. "We are very pleased about this agreement with the Prisa Group. IberoAmerican Radio Chile's management has not only generated excellent results and brand positioning, creating shareholder value, but has also enhanced the Chilean radio industry as a whole. We believe the interest of Prisa Group, who operates radio businesses in different markets, is a recognition to the management of IberoAmerican Radio Chile, with whom I am proud to have worked all these years," said Roberto Vivo, Claxson's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. & Chairman. Claxson intends to commence a process to analyze strategic alternatives with respect to its remaining assets, and may consider taking the Company private. About Claxson Claxson Interactive Group, Inc. (XSONF.PK) 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 well-known branded entertainment options distributed on multiple platforms Refers to two or more operating environments, which typically include the CPU family and operating system. For example, if versions of a program run on Windows and the Macintosh, the software is said to support multiple platforms. , including pay TV, broadcast TV, radio and Internet. The company's headquarters are located in Buenos Aires Buenos Aires (bwā`nəs ī`rēz, âr`ēz, Span. bwā`nōs ī`rās), city and federal district (1991 pop. and Miami, and it has a presence in the U.S. and all major Latin American countries List of American countries Nations:
American painter of primitive works, notably The Peaceable Kingdom, of which nearly 100 versions exist. , Muse, Tate & Furst Inc. |
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