Advanced Television

US offer for Grupo Clarín TV

July 2, 2014

Argentine media giant Grupo Clarín is considering an offer to sell its TyC and an additional six cable TV channels to a US investor for $31.5 million, as part of its plans to adjust to new legislation that seeks to break up the company.

The potential buyer is  New York-based 34 South Media, owned by businessman Alexander Silverman, who is known for investments in the entertainment, media and events organisation industries.

The offer was reportedly made last week during a shareholders’ meeting, which was also attended by representatives of Argentina’s national social security agency Anses.

If accepted, the offer would include $21.8 million for 100 per cent of IESA, with a payment of $6.54 million at the time of closing the deal and three yearly quotas of $5.08 million, plus $9.2 million for signals as well as other payments, making up a total of $31.5 million.

The offer will be readdressed during a board meeting scheduled for July 11th.

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