Shearman & Sterling represented Viacom International Media Networks in its $345 million cash purchase of leading Argentine broadcast and content producer Telefe in what is believed to be the first major media investment under Argentina’s new government.
Television Federal S.A., or Telefe, as the Telefonica S.A. subsidiary is known, is one of the two main free-to-air channels in Argentina, reaching 95 percent of the country’s households. Its content library distributes to more than 100 countries. Telefe’s international channel distributes via paid TV to 10 million subscribers across 17 countries, mostly throughout Latin America and the U.S.
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