BUENOS AIRES — Argentine lawyer-journo Daniel Hadad has sold his remaining 20% of Buenos Aires broadcaster Canal 9 to Mexican TV mogul Angel Gonzalez for an undisclosed sum.
Hadad sold 80% of the fourth-ranked broadcaster to Gonzalez for an estimated $70 million in January, divesting to focus on his C5N cable news net, five radio nets, a financial news service and a music downloading service.
Under Gonzalez, Canal 9 has focused on low-cost, imported telenovelas from Central America like “Salome” and “El color de pecado,” and films, gamers and yakkers. The net has slipped to fourth in the ratings behind America TV, which is having success with local womanizer comedy “Lalola.”
Based in Miami, Gonzalez wants to build a production base for Latin America in Argentina, using Canal 9’s studios and a strong, low-cost talent pool. He has TV assets in Chile, Costa Rica, Ecuador, Guatemala, Mexico, Nicaragua, Paraguay and Peru, as well as a programming supply deal with Mexican media conglom Televisa and stations in the Dominican Republic.