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HISPASAT agrees deal with Telefónica Group to take over Media Networks Latin America

Telefónica Group has agreed a deal with satellite operator HISPASAT for the latter to take over the management and signal transport business of Telefónica subsidiary Media Networks Latin America.

HISPASAT said that the transition will be carried out in the upcoming months in compliance with regulatory provisions, and that Movistar’s TV customers in South America will be unaffected by the change.

Media Networks Latin America currently provides signal transport and management services to the telecommunications and television operators in South America using HISPASAT’s satellites in the 61ºW position. The integration for these services will allow HISPASAT to strengthen its position as a leading operator in the region for satellite TV related services in Latin America.

HISPASAT said that the deal falls within the lines of its 2020-25 Strategic Plan, which will turn the company from an infrastructure operator into a services and satellite solutions company. 

Miguel Ángel Panduro, CEO of HISPASAT, said: “this agreement will make our multimedia business in Latin America more efficient and strengthen our strategic position in a vertical market where we provide service today to close to two million homes in Brazil, Bolivia, Chile, Colombia, Ecuador, Peru and Venezuela. With this highly important transaction for our company, we are expanding our presence in the value chain and promoting the high-quality service that Media Networks has provided in the region for all these years”.

Alfonso Gómez Palacio, CEO of Telefónica Hispanoamérica, said: “we are very satisfied with the agreement we have reached with our trusted partner HISPASAT for the management and signal transport, Media Networks Latin America. This agreement will allow Telefónica Hispanoamérica to remain focused on the fiber optic rollout, as well as mobile connectivity with the latest generation networks to provide our clients the best experience. At the same time, the company is taking another step in its goal of making its operations in the region more dynamic”.