Clarin pulls in funds for expansion

Media unit brings in $39.25 million

BUENOS AIRES — Argentina’s biggest media conglom Grupo Clarin earned 122.85 million pesos ($39.25 million) in the nine months ended Sept. 30, it said Nov. 12.

The Buenos Aires company did not provide comparative data in its first public financial report since raising $463 million in an IPO last month on the Buenos Aires and London stock exchanges.

The conglom, which is controlled by four directors and part owned by New York-based investment bank Goldman Sachs, is investing to beef up its broadband infrastructure in Argentina to offer telephony and it is eyeing expansion in Latin America.

Grupo Clarin has interests in film production, TV broadcasting and production, sports programming and print media. It is behind hit TV programs including comedy “Son de Fierro” (They Are Fierro), murder series “Mujeres asesians” (Female Assassins) and Latin American adaptations of “Desperate Housewives.”

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