U.S. firms want out of TVA

Cabler dwarfed by competish

MIAMI — Disney/ABC, Falcon Cable, Hearst Corp. and Chase Manhattan are all looking to quit struggling paybox TVA.

The U.S. companies have a combined 38% stake in TVA, which is majority-owned by publishing giant Abril. With 550,000 subscribers, TVA is dwarfed by media giant Globo, whose cable subsids control around 2 million subs.

An industry insider says two banks, including Citicorp, are performing due diligence at TVA on behalf of potential buyers of the U.S. portion; Citicorp may be representing voracious Argentine media investor CEI, of which the bank is a backer.

Calls to Falcon, Hearst and TVA were not returned.

The decision to ankle comes at a time of almost flat cable growth in Brazil — only satcaster biz has climbed this year — and follows several years of tensions between partners.

Ten days ago, CEO Raul Rosenthal was replaced by Jose Augusto Pinto Moreira, who becomes TVA’s fourth topper in two years.

More TV

  • Fox World Cup Broadcast Team Talks

    Fox World Cup Broadcast Team Looks to Put American Stamp on International Affair

    MIAMI — Disney/ABC, Falcon Cable, Hearst Corp. and Chase Manhattan are all looking to quit struggling paybox TVA. The U.S. companies have a combined 38% stake in TVA, which is majority-owned by publishing giant Abril. With 550,000 subscribers, TVA is dwarfed by media giant Globo, whose cable subsids control around 2 million subs. An industry […]

  • Dear White People Netflix

    TV News Roundup: Netflix Releases 'Dear White People' Season 2 Trailer (Watch)

    MIAMI — Disney/ABC, Falcon Cable, Hearst Corp. and Chase Manhattan are all looking to quit struggling paybox TVA. The U.S. companies have a combined 38% stake in TVA, which is majority-owned by publishing giant Abril. With 550,000 subscribers, TVA is dwarfed by media giant Globo, whose cable subsids control around 2 million subs. An industry […]

  • Here and Now Review

    'Here and Now' Canceled by HBO

    MIAMI — Disney/ABC, Falcon Cable, Hearst Corp. and Chase Manhattan are all looking to quit struggling paybox TVA. The U.S. companies have a combined 38% stake in TVA, which is majority-owned by publishing giant Abril. With 550,000 subscribers, TVA is dwarfed by media giant Globo, whose cable subsids control around 2 million subs. An industry […]

  • 'Queer Eye,' 'Jersey Shore' Creators Reveal

    'Queer Eye,' 'Jersey Shore' Creators Reveal How Unscripted Franchises Were Revived

    MIAMI — Disney/ABC, Falcon Cable, Hearst Corp. and Chase Manhattan are all looking to quit struggling paybox TVA. The U.S. companies have a combined 38% stake in TVA, which is majority-owned by publishing giant Abril. With 550,000 subscribers, TVA is dwarfed by media giant Globo, whose cable subsids control around 2 million subs. An industry […]

  • Forest Whitaker at the Photocall For

    Forest Whitaker to Star in Epix Drama Series 'Godfather of Harlem'

    MIAMI — Disney/ABC, Falcon Cable, Hearst Corp. and Chase Manhattan are all looking to quit struggling paybox TVA. The U.S. companies have a combined 38% stake in TVA, which is majority-owned by publishing giant Abril. With 550,000 subscribers, TVA is dwarfed by media giant Globo, whose cable subsids control around 2 million subs. An industry […]

  • Gavel Court Placeholder

    Sharp Entertainment Sets $226,000 Settlement With New York State Over Overtime Pay

    MIAMI — Disney/ABC, Falcon Cable, Hearst Corp. and Chase Manhattan are all looking to quit struggling paybox TVA. The U.S. companies have a combined 38% stake in TVA, which is majority-owned by publishing giant Abril. With 550,000 subscribers, TVA is dwarfed by media giant Globo, whose cable subsids control around 2 million subs. An industry […]

  • George RR Martin

    George R.R. Martin Says 'Winds of Winter' Will Not Be Released in 2018

    MIAMI — Disney/ABC, Falcon Cable, Hearst Corp. and Chase Manhattan are all looking to quit struggling paybox TVA. The U.S. companies have a combined 38% stake in TVA, which is majority-owned by publishing giant Abril. With 550,000 subscribers, TVA is dwarfed by media giant Globo, whose cable subsids control around 2 million subs. An industry […]

More From Our Brands

Access exclusive content