This content was published on July 21, 2021 – 23:53
Buenos Aires, Jul 21 (EFE) .- The Argentine Werthein Group reached an agreement this Wednesday to buy the American company AT&T the company Vrio, which manages the digital entertainment services of DirecTV and Sky, with operations in 11 Latin American countries.
In a joint statement, both companies indicated that Grupo Werthein, with assets in various sectors, agreed to acquire 100% of the capital of Vrio, which offers live and on-demand content services through DirecTV Latin America, Sky Brasil and DirecTV Go .
The companies expect the transaction to close in early 2022.
“Our vision of the future will be to care for and strengthen the leading entertainment brands, maintain their leadership and grow in the value proposition, investing in technology and content, aligned with the habits of each of our subscribers and especially, of the new generations” said Dario Werthein, a shareholder of the Werthein Group.
Vrio offers 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.
It also operates DirecTV Go, a subscription service that provides online access to a variety of live and on-demand programming in Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru and Uruguay.
With nearly 9,000 employees, Viro offers content to some 10.3 million subscribers in eleven countries in Latin America and the Caribbean.
The agreement announced on Wednesday also includes the transfer to Grupo Werthein de Torneos y Competencias, an Argentine production company of audiovisual content and transmission of sporting events, and WIN Sports, a sports subscription television channel in Colombia.
“Vrio has a team of collaborators with a high level of professionalism and dedication and we look forward to continuing to work with them. We trust that they will maintain their commitment to business success, customer satisfaction and excellent service,” said Werthein.
For her part, the executive director of AT&T Latin America, Lori Lee, said that the US company will maintain its commitment to Latin America through its “wireless business in Mexico and services for multinational corporations operating in the region.”
Founded almost a century ago in Argentina, the Werthein Group has diversified assets in the insurance sectors (Expert and La Estrella), health (SML, Jelper and SOI Medical Center), agroindustry (Gregorio, Numo and Noel Werthein SA), food and beverages (Cachamai, Valley, WHT Partners and Huarpe winery), real estate (Landmark Developments), energy (Intragas and Vista) and technology (Werthein Technologies). EFE
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