Sony, TV Azteca eyeing net
MIAMI — CBS Cable is seeking a 50% partner for CBS TeleNoticias, the Latino newsnet it acquired two years ago.
TeleNoticias declined to make an official comment, but an insider confirmed that negotiations are proceeding with at least one party.
Industry sources say Fox, Turner, Reuters and the Cisneros Group have all been approached by CBS and turned down the chance to take a stake.
Some say Sony and Mexico’s TV Azteca, both of which have recently made several Latino acquisitions, are the most likely buyers.
But a few weeks ago Azteca dealt TeleNoticias a blow when it denied the newsnet further primetime carriage on Mexico City’s Canal 40, whose management Azteca has assumed.
The 4-year-old newsnet, which has hybrid distribution involving cable, UHF and airtime on some VHF outlets, is under pressure to break even by the end of the year.