RIO DE JANEIRO — The Marinho family, owners of multimedia conglom Organizacoes Globo, has sold control of three TV stations in Sao Paulo state to Brazilian entrepreneur brothers Jose and Stefano Hawilla.
The Marinhos sold 90% stakes in Alianca, Modelo and Progresso, part of the leading network TV Globo, each serving average-sized towns.
Financial terms were not disclosed. However, the sale is part of the Marinhos’ effort to raise cash for the $135 million recapitalization, announced in May, of Globo holding company Globopar, a spokeswoman said.
The Marinhos are offering stakes in another 24 TV stations countrywide. Jose Hawilla is the controller of Traffic, South America’s largest sports marketing company.
U.S. investment fund Hicks, Muse, Tate & Furst used to be Hawilla’s partner in Traffic, but sold its stake to him last year. Traffic manages the sports programming of TV Record, Brazil’s third largest net. But Hawilla has no plans to change the stations’ affiliation.
“The stations will continue being part of TV Globo’s network,” a spokesman for Traffic said.