Sony trims HBO Latin America stake

Stake reduced from 29% to 8%

TOKYO — Sony Pictures Entertainment has trimmed its stake in HBO Latin America from 29% to 8%, its Tokyo parent announced in a statement on Monday.

The stake sale, worth $217 million, is to an affiliate of Time Warner. Sony will continue to supply content to HBO Latin America, which broadcasts pics and other programming via cable. Brazilian regulators will have to sign off on the deal.

In January Sony also sold a 33% share in HBO Central Europe for $45 million to a Time Warner company.

Sony’s strategy in its worldwide TV biz is to concentrate its management resources in the three group companies in which it has majority stakes.

Filed Under:

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety