With the completion of the customary acquisition closing procedures, effective November 15, Grupo Werthein took ownership of 100% of the equity of Vrio, a leading company on digital entertainment services with more than 10 million subscribers in 11 countries in Latin America and the Caribbean. Vrio offers live content and on-demand services through Directv Latin America, Sky Brazil and Directv Go.
The acquired business unit provides high-quality entertainment including sporting events, international shows, and exclusive content in Brazil through the Sky brand, and in Argentina, Barbados, Chile, Colombia, Curaçao, Ecuador, Peru, Trinidad and Tobago and Uruguay through the Directv brand. Directv Go is an OTT service that provides online access to diverse live and on-demand programming in Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, and Uruguay.
The infrastructure acquired by the regionally-expanding private holding company includes satellites and state-of-the-art broadcast centers that deliver a wide variety of content to homes in 4K format. The group also takes ownership of Vrio's broadband operations, along with holdings in other investments such as Torneos y Competencias in Argentina, and WIN Sports in Colombia.
“This transaction will further allow us to sharpen our focus on investing in connectivity for customers. We remain committed to Latin America through our wireless business in Mexico and services for multinational corporations operating in the region,” commented Lori Lee, CEO of AT&T Latin America, which will retain its 41.3% interest in Sky Mexico.