Sony Pix buys HBO Ole stake

HBO Ole and Sony Pictures Entertainment announced Wednesday that SPE has agreed to acquire a substantial equity stake in HBO Ole, currently a partnership of Time Warner’s Home Box Office and Omnivision Latinamerican Entertainment Inc.

The new alliance, dubbed HBO Ole Partners, was unveiled at a NATPE press conference.

HBO Ole boasts more than 1 million subscribers and is available in 18 territories. Launched in October 1991, HBO Ole was the first 24-hour-a-day, commercial-free, Spanish-lingo pay TV network in Latin America.

Under the new alliance, on Feb. 1 HBO, SPE and the Ole Group will launch a second service, Cinemax, which will draw upon the filmed entertainment libraries of SPE, Warner Bros. and other major film suppliers.

Within the next six months, the new venture plans to launch an array of advertiser-supported cable programming services, including a general entertainment superstation and a family channel. It also plans to focus on cultivating and promoting high-quality Latin American creative talent and productions.

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