WarnerMedia and Ole Communications announced that the joint venture Ole Distribution is taking over the basic channel distribution business in Spanish-speaking Latin American countries, while Ole Brasil Distribution will do the same in Brazil.
The new company will distribute A&E, AXN, E !, HISTORY, History2, IVC, Lifetime, Sony Channel, Studio Universal, Syfy, Telemundo Internacional (excluding Mexico), Universal TV and Warner Channel throughout the region, while in Brazil, it will be responsible for the distribution of A&E, AXN, E !, History, History2, Lifetime, Sony Channel and Warner Channel.
The news was released days after both companies announced an agreement by which WarnerMedia concluded the acquisition of Ole Communications’ minority stake in HBO Ole Partners and HBO Brasil Partners, the joint ventures between WarnerMedia and Ole Communications, remaining as the owner of all HBO, Cinemax and HBO Go services in the Spanish-speaking countries of Latin America and the Caribbean, in addition to Brazil.
The new company will be led by Juan Carlos Urdaneta, former President of Turner Latin America. ‘I am excited to return to this dynamic industry at such a crucial time, leading a company with such a strong channel portfolio, and confident that this high-level management team will continue to grow and strengthen the long-standing relationship built by HBO Ole Distribution between this iconic group of channels and our distribution partners across the region, as we enter an exciting new phase in the video content delivery business’, said the executive.