Satcaster takes sole ownership of unit
DirecTV has acquired full equity ownership of DirecTV Latin America, agreeing to pay $325 million to Darlene Investments for its 14.1% stake.
Deal voids all previous litigation against DirecTV by Darlene Investments, an affiliate of the Cisneros Group, which owns Venezuelan broadcaster Venevision and other media assets.
Darlene had filed suit against the company following DirecTV’s 2003 bankruptcy.
DirecTV had roughly 2.6 million subscribers in Mexico at the end of third-quarter 2006.
Satcaster completed a deal last year with News Corp., Mexican broadcaster Televisa, Brazilian web Globo and Liberty Media that combined Sky and DirecTV into single platforms in each major territory and divided stakes. DirecTV holds all major Latam territories except Mexico and Brazil.
DirecTV holds 41% of Sky Mexico, which has around 1.4 million subs; Televisa holds the rest. Direct has a 71% stake in Sky Brasil, whose subs are consolidated with DirecTV Latam.