Grupo Werthein acquires digital entertainment company Vrio | Large companies | Business | News

In the latest example of a major operator divesting the assets of its divisions to finance the expansion of fiber optic and 5G networks, AT&T struck a deal with Grupo Werthein to sell its Vrio Corp business unit.
Vrio provides live and on-demand video services through DIRECTV Latin America, SKY Brasil and the DIRECTV GO over-the-top (OTT) subscription service. Vrio’s entertainment includes sporting events, international content and exclusive programming. Vrio offers services in Brazil through the SKY brand and in Argentina, Barbados, Chile, Colombia, Curaçao, Ecuador, Peru, Trinidad and Tobago and Uruguay through the DIRECTV brand.

The company has 10.3 million subscribers in 11 countries in Latin America and the Caribbean. Its infrastructure includes state-of-the-art satellites and broadcast centers that broadcast 4K video formats. Vrio’s broadband business, along with other investments including Torneos y Competencias in Argentina and WIN Sports in Colombia, will be transferred to Grupo Werthein on closing.

Grupo Werthein is a private holding company that has been doing business in Latin America and abroad for over 100 years and has extensive experience in telecommunications, finance, insurance, agribusiness and real estate. It has undertaken to acquire, subject to the usual closing conditions, 100% of Vrio’s capital.

“Our vision for the future is to maximize these leading entertainment brands in Latin America, maintaining their leadership and increasing their value proposition by investing in technology and content aligned with the viewing habits of each of the subscribers. , including the next generation of consumers, ”said Dario Werthein, shareholder of Grupo Werthein. “Vrio has a talented and dedicated team of employees and we look forward to continuing to work with them. We are confident that they will maintain their commitment to business success, customer satisfaction and providing excellent service.

“This transaction will allow us to increase our focus on investing in customer connectivity,” added Lori Lee, CEO of AT&T Latin America. “We remain committed to Latin America through our wireless business in Mexico and our services for multinational companies operating in the region. “

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