Paramount Exiting Argentina TV Business

Skydance’s Paramount has sold its Argentinian broadcast network Telefé to businessmen Gustavo Scaglione and José Luis Manzano. Terms of the deal with Scaglione’s holding company were not disclosed, but a leading Argentine newspaper, pegged the deal at around $100M. That would be a significant hit on the $345M Paramount predecessor Viacom paid for Telefé nine years ago. “Telefé has long been a benchmark in Argentine television, and we are confident it will continue to grow and thrive under its new local management,” said Kevin MacLellan, Paramount’s President of Global Content Distribution and International Media n a statement to Forbes. Paramount has been seeking to sell the business for some time, with local media mogul Scaglione winning out over

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