Chellomedia has become the leading multichannel operator in Spain and after purchasing the Teuve bouquet from cablenet ONO.
The deal gives Chello Multicanal full responsibility for the 10-channel portfolio, its programming assets and playout facilities. The combined Multicanal and Teuve offer represents a 16% viewing share of pay-TV channels in Spain.
Chello Multicanal already operates a portfolio of seven channels in Spain that includes Canal Hollywood, Odisea, Canal Cocina, Decasa, Sol Musica, as well as the AETN joint venture for local versions of Bio and Historia.
The enlarged portfolio will have an emphasis on movies and entertainment. Six channels fall onto the movie genre including the mainstream Canal Hollywood and XTRM, while Somos and Cinematk carry productions from the independent sector. Popular TV series and entertainment appear on the youth-skewing Buzz.
In a statement Chellomedia said the acquisition was consistent with its strategy of acquiring high quality local channels. “This deal demonstrates Chellomedia’s success at developing a leading position in key European territories and underlines our commitment to the Spanish market,” said Chellomedia President Shane O’Neill.
It also makes plain that the Liberty Global-owned company is still building its business following last September’s sale of a 50% interest in its UK operations to the US CBS network.
No financial terms have been disclosed, however the deal would reduce the financial burden on cash-strapped ONO.
