Paramount Skydance announced on Friday that it has reached an agreement to sell its shares in the entities controlling Chilean free-to-air broadcaster Chilevision to Vytal Group. The move aligns with the company’s broader strategy to streamline its global operations while strengthening its direct-to-consumer services across key Latin American markets.
The acquisition will be executed through a holding company led by Argentine media executive and television producer Tomas Yankelevich, alongside Jorge Carey, current owner of CNN Chile, and media veteran Edgar Spielmann. Until regulatory approvals are completed in Chile, Chilevision will continue operating under Paramount Skydance’s management.
The company also confirmed on Monday that it will cut approximately 1,600 jobs as part of its divestment of both Chilevision and Argentina’s Telefe network, which runs multiple television stations including those in Buenos Aires. These steps mark significant restructuring efforts as Paramount Skydance narrows its international portfolio.
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