CGT acquires Imagen

The Venezuelan-based Cisneros Television Group (CGT) today completed the 90% acquisition of Imagen Satelital, Argentina’s largest premium channel programmer and distributor, for a total of $114 million, $5 million more than was previously reported (Daily Variety, May 16).

Imagen owned a total of nine channels; this purchase gives Cisneros the distribution rights to six additional channels. Gustavo Cisneros, chairman and CEO of the group, said the acquisition proves the Cisneros commitment to become a Spanish content provider in Spanish-speaking markets around the world.

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