Grupo Octubre buys Argentine FTA TV channel Canal 9

According to several local websites, the Argentine FTA TV channel Canal 9 is already part of Grupo Octubre, a media conglomerate headed by businessman Victor Santa Maria.

‘Grupo Octubre (GO) has already completed Telearte S.A. (company led by Argentine Carlos Eduardo Lorefice Lynch, controller of Channel 9)’s acquisition process, thus remaining as its operator’, the Group officially reported, according to information reported by the Argentine newspaper ‘La Nacion’ on its website, in which it has also informed that, in June, GO accepted the initiative for the acquisition of Canal 9 and FM Aspen (102.3 of Argentina), ‘fulfilling strict confidentiality obligations’.

According to ‘La Nación’, the process began in December 2019, when GO ran several agreements with Telearte S.A., to jointly develop different content productions and new audiovisual projects. Later, in May this year, the relationship was strengthened, with agreements for the development of IP, a new news channel that Grupo Octubre officially launched on October 17th. Although Canal 9’s ownership is still being disputed (the US Justice has already established that the FTA TV channel must be returned to its previous owner, the Grupo Albavision that belongs to Mexican Remigio Angel Gonzalez Gonzalez), Santa Maria had said in July that this issue did not modify the projects.

Apart from Canal 9 and FM Aspen, Grupo Octubre includes newspapers ‘Página / 12’ and ‘Diario Z’;  magazines like ‘Caras y Caretas’; ‘El planeta urbano’ and ‘PIN’; and several radios, including ‘AM 750’; ‘Mucha Radio’ (FM 89.5); ‘Radio Oktubre’ (FM 89.1); and ‘Club Octubre’ (FM 94.7). After this transaction, Grupo Octubre owns 90% of Canal 9, while the remaining 10% remains with Lorefice Lynch, who will also continue as President of the channel.