Chile TV deal cancelled

President Pinera's pact to sell off Chilevision stumbles

It appears that Chile’s president won’t be selling his television network after all.

Irreconcilable differences arose between Linzor Capital and the investment firm of Chile president Sebastian Pinera that spiked the deal last week.

The sale, worth a reported $130 million, failed nearly halfway through the 60-day transaction period. One of the reasons for the rupture between parties was the concession for the Chilevision signal, which belongs to the U of Chile, and is scheduled for renewal in 2018 for a period of 25 years.

The failed negotiations could expose the president to renewed criticism over his reluctance to sell his TV holdings.

Pinera has been compared to Italian prime minister Silvio Berlusconi, a likeness he has taken steps to avoid.

Pinera sold $1.5 billion stake in flagship airline LAN, but the business mogul couldn’t hide his soft spot for Chilevision.

He purchased it in 2005 for around $24 million, guiding it to a net profit of $15 million last year.

More TV

  • IT Crowd

    NBC Developing 'IT Crowd' Remake With Original Series Creator Graham Linehan (EXCLUSIVE)

    It appears that Chile’s president won’t be selling his television network after all. Irreconcilable differences arose between Linzor Capital and the investment firm of Chile president Sebastian Pinera that spiked the deal last week. The sale, worth a reported $130 million, failed nearly halfway through the 60-day transaction period. One of the reasons for the […]

  • Hasan Minhaj

    TV News Roundup: Hasan Minhaj Joins NBC's 'Champions' in Guest Role (EXCLUSIVE)

    It appears that Chile’s president won’t be selling his television network after all. Irreconcilable differences arose between Linzor Capital and the investment firm of Chile president Sebastian Pinera that spiked the deal last week. The sale, worth a reported $130 million, failed nearly halfway through the 60-day transaction period. One of the reasons for the […]

  • Sony's Tony Vinciquerra: Disney-Fox 'Creates Opportunities'

    Sony's Tony Vinciquerra: Disney-Fox 'Creates Opportunities'

    It appears that Chile’s president won’t be selling his television network after all. Irreconcilable differences arose between Linzor Capital and the investment firm of Chile president Sebastian Pinera that spiked the deal last week. The sale, worth a reported $130 million, failed nearly halfway through the 60-day transaction period. One of the reasons for the […]

  • Mayweather McGregor fight

    Floyd Mayweather-Conor McGregor Fight Is Second Biggest Pay-Per-View of All Time

    It appears that Chile’s president won’t be selling his television network after all. Irreconcilable differences arose between Linzor Capital and the investment firm of Chile president Sebastian Pinera that spiked the deal last week. The sale, worth a reported $130 million, failed nearly halfway through the 60-day transaction period. One of the reasons for the […]

  • What Disney Bought in the Fox

    What Disney Bought: A Billion-Dollar Breakdown of Assets

    It appears that Chile’s president won’t be selling his television network after all. Irreconcilable differences arose between Linzor Capital and the investment firm of Chile president Sebastian Pinera that spiked the deal last week. The sale, worth a reported $130 million, failed nearly halfway through the 60-day transaction period. One of the reasons for the […]

  • Actor Dustin Hoffman poses for photographers

    Dustin Hoffman Accused of Exposing Himself to a Minor, Assaulting Two Women (EXCLUSIVE)

    It appears that Chile’s president won’t be selling his television network after all. Irreconcilable differences arose between Linzor Capital and the investment firm of Chile president Sebastian Pinera that spiked the deal last week. The sale, worth a reported $130 million, failed nearly halfway through the 60-day transaction period. One of the reasons for the […]

  • conde-nast-entertainment

    Paramount TV, Anonymous Content Set First-Look Deal With Condé Nast Entertainment

    It appears that Chile’s president won’t be selling his television network after all. Irreconcilable differences arose between Linzor Capital and the investment firm of Chile president Sebastian Pinera that spiked the deal last week. The sale, worth a reported $130 million, failed nearly halfway through the 60-day transaction period. One of the reasons for the […]

More From Our Brands

Access exclusive content