Gustavo Scaglione and José Luis Manzano strike deal for broadcaster
Paramount Skydance has sold Argentine broadcaster Telefé to local business duo Gustavo Scaglione and José Luis Manzano.
The deal was valued at around $100m by Buenos Aires-based newspaper La Nación, which broke the news. Telefe cost Paramount $345m when it was acquired by Paramount forerunner Viacom in 2016.
Darío Turovelzky, who was appointed chief exec at the broadcaster five years ago, will remain in post following the deal.
Paramount had been looking to sell Telefé prior to its merger with Skydance this summer. The broadcaster’s flagship channel leads Argentina’s FTA market, while its production arm is behind more than 3,000 hours of Spanish-language programming.
The group joins a portfolio of media outlets owned by Scaglione that includes streamers, TV channels and newspapers.
Scaglione said Telefé the deal marked “the beginning of a new chapter focused on growth and integration of both organisations…”
He added that the acquisition would “enhance production and maximize the competitiveness of the new multi-platform ecosystem we are building.”
Telefé fell under the remit of Kevin MacLellan after he was installed as Paramount’s president of global content distribution and international media in September.
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