The Venezuelan-based Cisneros Television Group (CGT) completed its acquisition Wednesday of 90% of Imagen Satelital, Argentina’s largest pay-box programmer and distributor, for a total of $112 million, $5 million more than previously reported (Daily Variety, May 16).

Gustavo Cisneros, chairman and CEO of the group, said the acquisition proves the Cisneros Group’s commitment to become a Spanish content provider.

Changing channels

Imagen owned a total of nine channels, including Infinito (documentaries) Space (24 hours of movies) Jupiter (24 hours of comedies) I-sat (movies for a younger audience), Uniseries (weekly series) and Venus (adult).

The purchase gives Cisneros the distribution rights to six additional channels: news network Cronica TV, Chilean news channel Universidad Catolica Chile, music channels Much Music and Solo Tango and Spanish channels Galeusca and Galicia.

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