Hispasat acquires Telefónica’s Media Networks Latin America transmission

The acquisition is part of Hispasat’s 2020-25 strategic plan and strengthens its position as a leading operator for satellite TV related services in Latin America, the company said in a statement.

Hispasat is a market leader in the broadcast and transmission of multimedia content in Spanish and Portuguese.

The agreement will be implemented gradually in upcoming months in strict compliance with regulatory provisions and without affecting the service that Movistar’s television clients receive in South America.

Media Networks Latin America currently provides signal transport and management services to the leading telecommunications and television operators in South America using Hispasat’s satellites to reach millions of homes.

The integration for these services will allow Hispasat to strengthen its position as a leading operator in the region for satellite TV related services in Latin America.

“This agreement will make our multimedia business in Latin America more efficient and strengthen our strategic position in a vertical market where we provide service today to close to two million homes in Brazil, Bolivia, Chile, Colombia, Ecuador, Peru and Venezuela,” Miguel Ángel Panduro, CEO of Hispasat, said.

“With this highly important transaction for our company, we are expanding our presence in the value chain and promoting the high-quality service that Media Networks has providing in the region for all these years,” he added.

“We are very satisfied with the agreement we have reached with our trusted partner Hispasat for the management and signal transport, Media Networks Latin America,” Alfonso Gómez Palacio, CEO of Telefónica Hispanoamérica, said.

“This agreement will allow Telefónica Hispanoamérica to remain focused on the fiber optic rollout, as well as mobile connectivity with the latest generation networks to provide our clients the best experience. At the same time, the company is taking another step in its goal of making its operations in the region more dynamic,” Gómez Palacio added.

Law firm King & Wood Mallesons has advised Hispasat on the transaction, with a team coordinated by counsel Teresa García, with the collaboration of Priscila Rojas, associate of the corporate team.

Peruvian law firms Rebaza, Alcázar & De Las Casas and QA Legal acted as counsel to Hispasat in Peru.

Rebaza's team was made up of partner Felipe Boisset and associate Stefano Amprimo.