Fox Intl. Channels has acquired MGM’s minority stake in Latin American pay TV service LAPTV.
Deal raises FIC’s existing stake the company, whose owners also include Paramount Pictures. LAPTV operates the Moviecity channel and other premium outlets.
As part of the sale, MGM struck a long-term content output deal with LAPTV, giving the channel group access to new feature films from the Lion in Latin America with the exception of Brazil.
“MGM looks forward to continuing our strong relationship with LAPTV and providing them with our exciting slate of content. This deal provides liquidity for our minority interest, while preserving the key elements of the output arrangement, as if we had retained our ownership interest,” said MGM TV Group and digital prexy Roma Khanna.