Colombia renews Caracol and RCN TV licenses for 10 years

The National Television Board approved the renewal of the TV licenses of the private free-to-air channels Caracol and RCN for a period of 10 years. Each company will have to pay Co$ 128 billion (USD 47 million).
The current licenses of both channels end on January 10, 2019. Now, Caracol Televisión and RCN have 15 days to decide if they subscribe to the extensions of their contracts. The renewal process started during the first semester of 2017, reported the National Television Authority (ANTV).
According to the ANTV, the valuation of the extensions was in charge of the consultant team of the National University of Colombia, which also valued the tender of Canal 1. “The figure that supports the value corresponds to a model that analyzes several variables which, among other factors, took into account the income from TV advertising, which for the 2017 period amounted to $917 billion (USD 336 million)”,said ANTV in a statement.
“This is good news for everyone. With the renewal of the licenses, in addition to the actions that ANTV has taken in recent years, we not only have stronger television, but also more options for viewers, more national content, more entertainment, more education, more pluralism,” commented Ángela Mora, director of the ANTV.