Fox International Channels (FIC) has announced the purchase of the last shares of LAPTV, which belonged to Paramount Pictures, bringing its ownership of the premium film channels operator to 100%.
LAPTV was initially a partnership between FIC, Twentieth Century Fox and Paramount.
However, Paramount's connection with LAPTV doesn't end here. The company has extended its long-term content output agreement with FIC, giving LAPTV access to new films to distribute in the whole of Latin America (excluding Brazil). Thus, LAPTV's deals with the main American producers, such as MGM, Universal Studios and Twentieth Century Fox, will continue.
"I'm very excited to announce that FOX International Channels will now own 100% of LAPTV. I am sure that we will leverage and increase the value of our product proposition to our affiliates, distributors and advertisers," said Carlos Martínez, president of FIC Latin America.
LAPTV is headquartered in Atlanta but has permanent offices in Argentina, Mexico and Venezuela. The company operates premium pay-TV channels including Moviecity in the region.