You will be redirected back to your article in seconds

Cisneros nixes plans for second Chile station

CNTV rules against joint management, eyes 'Adultos' pix

MIAMI — Venezuela’s Cisneros Group will not, it seems, operate two broadcasters in Chile after all.

In May, Ibero-American Media Partners (IAMP), a fund formed by Cisneros with Hicks, Muse, Tate & Furst, announced a $40 million investment in Compania Chilena de Comunicaciones, including a 75% stake in its niche net Rock & Pop.

Cisneros hoped to achieve economies by jointly managing the station with its existing Chilean property, Chilevision (Canal 11), but Chilean regulatory board the CNTV has nixed that scenario by ruling that Rock & Pop’s management must remain separate.

Cisneros executives could not be reached for comment, but the CNTV decision is believed to have prompted IAMP to back off from Rock & Pop.

IAMP’s investment in other Compania Chilena properties — radio stations and magazines — is expected to go ahead as planned.

Separately, Chilevision is itself coming under CNTV scrutiny, on account of its top-rated Tuesday night B-movie slot “Cine para Adultos,” which is testing official tolerance for racy fare.

Newspaper commentators have laid into the film slot and a CNTV decision, which may include fines, is expected this week.

(Hans Ehrmann in Santiago contributed to the story.)

More Biz

  • Kris Wu, Chinese Superstar Singer-Actor, Signs

    Kris Wu, Chinese Superstar Singer-Actor, Signs With Universal Music Group

    MIAMI — Venezuela’s Cisneros Group will not, it seems, operate two broadcasters in Chile after all. In May, Ibero-American Media Partners (IAMP), a fund formed by Cisneros with Hicks, Muse, Tate & Furst, announced a $40 million investment in Compania Chilena de Comunicaciones, including a 75% stake in its niche net Rock & Pop. Cisneros […]

  • solo a star wars story

    'Sabacc' Trademark Holder Sues Lucasfilm and Denny's

    MIAMI — Venezuela’s Cisneros Group will not, it seems, operate two broadcasters in Chile after all. In May, Ibero-American Media Partners (IAMP), a fund formed by Cisneros with Hicks, Muse, Tate & Furst, announced a $40 million investment in Compania Chilena de Comunicaciones, including a 75% stake in its niche net Rock & Pop. Cisneros […]

  • Set TVNow

    Studios Take Aim at Another Pirate Streaming Device

    MIAMI — Venezuela’s Cisneros Group will not, it seems, operate two broadcasters in Chile after all. In May, Ibero-American Media Partners (IAMP), a fund formed by Cisneros with Hicks, Muse, Tate & Furst, announced a $40 million investment in Compania Chilena de Comunicaciones, including a 75% stake in its niche net Rock & Pop. Cisneros […]

  • David Chang Partners With Bill Simmons

    David Chang Partners With Bill Simmons for Ringer Podcast

    MIAMI — Venezuela’s Cisneros Group will not, it seems, operate two broadcasters in Chile after all. In May, Ibero-American Media Partners (IAMP), a fund formed by Cisneros with Hicks, Muse, Tate & Furst, announced a $40 million investment in Compania Chilena de Comunicaciones, including a 75% stake in its niche net Rock & Pop. Cisneros […]

  • AAFCA, LA City Hall to Honor

    AAFCA, LA City Hall to Honor 'Unsolved: The Murders of Tupac and The Notorious B.I.G.'

    MIAMI — Venezuela’s Cisneros Group will not, it seems, operate two broadcasters in Chile after all. In May, Ibero-American Media Partners (IAMP), a fund formed by Cisneros with Hicks, Muse, Tate & Furst, announced a $40 million investment in Compania Chilena de Comunicaciones, including a 75% stake in its niche net Rock & Pop. Cisneros […]

  • Stranger Things Season 2

    Netflix Plans to Raise Another $1.5 Billion in Debt Financing for Original Content

    MIAMI — Venezuela’s Cisneros Group will not, it seems, operate two broadcasters in Chile after all. In May, Ibero-American Media Partners (IAMP), a fund formed by Cisneros with Hicks, Muse, Tate & Furst, announced a $40 million investment in Compania Chilena de Comunicaciones, including a 75% stake in its niche net Rock & Pop. Cisneros […]

  • Harvey Weinstein ousted

    Weinstein Co. Adds Board Member to Navigate Bankruptcy Sale

    MIAMI — Venezuela’s Cisneros Group will not, it seems, operate two broadcasters in Chile after all. In May, Ibero-American Media Partners (IAMP), a fund formed by Cisneros with Hicks, Muse, Tate & Furst, announced a $40 million investment in Compania Chilena de Comunicaciones, including a 75% stake in its niche net Rock & Pop. Cisneros […]

More From Our Brands

Access exclusive content