ViacomCBS announced that it has completed the purchase process of Fox Telecolombia & Estudios TeleMéxico, which until then were owned by The Walt Disney Company. From now on, both divisions will be under the control of ViacomCBS International Studios and Networks Americas.
At the end of last October, the company revealed that it had reached an agreement with the entertainment giant to acquire a majority stake in the studios. Now, after having closed it, ViacomCBS become involved in the process of production and distribution of content in Spanish in Mexico and Colombia. In addition, the contract also gave it the opportunity to integrate the products of both brands to its streaming platforms in Latin America.
“Fox TeleColombia & Estudios TeleMéxico will strengthen ViacomCBS’s Spanish content production capabilities and expand ViacomCBS International Studios to capitalize on the significant demand for content on its global streaming platforms, Paramount + and Pluto TV, as well as on its linear channels”, ViacomCBS announced in a statement.