BUENOS AIRES — Miami- and Buenos Aires-based conglom Claxson has spun off its ESDC broadband entertainment unit, the latest step in its effort to focus on its pay TV business and operate noncore divisions separately.
Claxson will own 100% of ESDC, which was part of its broadband and Internet division.
“From the start of Claxson, we have had the vision of media convergence, and for this reason we decided to invest all these years in the area of broadband and Internet,” Roberto Vivo, chairman-CEO of Claxson, said in a statement. “Now we see the digital business consolidating very rapidly and we are conscientious of how important it is to make decisions relevant to this with a certain independence to the core business of Claxson, which is pay TV.”
The spinoff marks the departure of Roberto Cibrian Campoy, senior VP of Claxson’s broadband and Internet division. He will work as a consultant to ESDC from his newly formed company, Cibrian Campoy Digital.
Claxson’s chief financial officer, Jose Antonio Ituarte, will take over as managing director of ESDC while maintaining his current post.
Claxson restructured its pay TV unit early this year, splitting its channel packages in two and promoting Ralph Haiek to chief strategic officer with oversight of engineering and operations; original production and content sales; and management of the creative marketing and design unit In Jaus.
Claxson, which had 68 million subs in Latin America at the end of 2005, has been divesting properties to focus on its pay TV business.