WarnerMedia has finalized its acquisition of Ole Communications’ minority stakes in both HBO Ole Partners and HBO Brasil Partners, the joint ventures between WarnerMedia and Ole Communications , and now owns 100% of all HBO, Cinemax and HBO Go services in Spanish-speaking Latin America and Caribbean, as well as in Brazil.
HBO services in Latin America will now fall under the purview of Gerhard Zeiler, Chief Revenue Officer, WarnerMedia & President, WarnerMedia International Networks.
‘We are pleased to complete this strategic acquisition, which will allow us to fully realize the potential of a combined WarnerMedia in Latin America, creating more value for fans, business partners and content creators’, said Zeiler. ‘First and foremost, with this acquisition, we plan to launch localized versions of our upcoming US SVOD OTT HBO Max to consumers throughout the region’, he added. The official release date for HBO Max in the US is next May 27th.
Enrique Cusco, President and CEO of Ole Communications, has also expressed himself on the announcement: ‘Nearly thirty years ago, Ole partnered with HBO to build one of the leading pay TV platforms in Latin America. HBO was an ideal partner and I am grateful to all the people that worked with us to create HBO Latin America. I am also proud of the significant role Ole and everyone on the HBO Latin America management team played in what we achieved together. I wish WarnerMedia great success’, he said.
WarnerMedia and Ole Communications brought HBO programming services to the region for the first time when they founded the HBO Ole Partners joint venture in 1991, and launched a Spanish-language HBO-branded premium channel that same year. In 1994, a Portuguese-language service was launched in Brazil. Apart from this acquisition, WarnerMedia and Ole Communications will continue their basic channel distribution business in Latin America.