Telenovela specialist Dori Media Group has agreed to buy 75% of Paran Prods. as it continues to expand its TV production capacity.
The company paid $1.6 million and 75,000 DMG shares for the interest.
Paran owns 50% of Darset Prods., the biggest producer of telenovelas in Israel. Deal will boost DMG’s interest in Darset to 87.5%.
DMG recently purchased a 50% stake in Argentina’s Central Park Prods. and its studios in Buenos Aires for $1.1 million.
DMG produces 600-800 hours of telenovelas a year in Israel and Argentina.