Grupo Werthein acquires Vrio digital entertainment business | Major Businesses | Business | News | Rapid TV News
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In the latest example of a major operator divesting divisional assts to fund expansion of core fibre and 5G networks, AT&T has reached an agreement with Grupo Werthein to sell its Vrio Corp business unit.

vrio logo 22 July 2021Vrio provides live and on-demand video services via DIRECTV Latin America, SKY Brasil and the DIRECTV GO over-the-top (OTT) subscription service. Vrio’s entertainment includes sporting events, international content and exclusive programming. Vrio offers services in Brazil through the SKY brand and in Argentina, Barbados, Chile, Colombia, Curacao, Ecuador, Peru, Trinidad and Tobago and Uruguay through the DIRECTV brand.

The company boasts 10.3 million subscribers across 11 countries in Latin America and the Caribbean. Its infrastructure includes satellites and state-of-the-art broadcast centres that carry 4K video formats. Vrio’s broadband operations, along with other investments, including Torneos y Competencias in Argentina and WIN Sports in Colombia, will transfer to Grupo Werthein at close.

Grupo Werthein is a private holding company that has been doing business in Latin America and internationally for more than 100 years and has extensive experience in telecommunications, finance, insurance, agribusiness and real estate. It has agreed to acquire, subject to customary closing conditions, 100% of the equity in Vrio.

“Our vision of the future is to maximise these leading entertainment brands in Latin America, maintaining their leadership and increasing their value proposition by investing in technology and content aligned with the viewing habits of each one of the subscribers, including the next generation of consumers,” said Grupo Werthein shareholder Dario Werthein. “Vrio has a talented and dedicated team of employees and we look forward to continuing to work with them. We are confident that they will maintain their commitment to business success, customer satisfaction and providing excellent service.”

“This transaction will further allow us to sharpen our focus on investing in connectivity for customers,” added AT&T Latin America CEO Lori Lee. “We remain committed to Latin America through our wireless business in Mexico and services for multinational corporations operating in the region.”