The post Paramount Exits Argentina, Sells Telefé To Gustavo Scaglione Media Group appeared on BitcoinEthereumNews.com.

Gustavo Scaglione’s holding company has acquired Argentina’s media company Telefé from Paramount. Telefé/Paramount Paramount is pulling out of Argentina, selling its flagship broadcast network Telefé to a holding company led by Rosario-based businessman Gustavo Scaglione and José Luis Manzano. The transaction, finalized on October 23, returns the country’s leading television network to local ownership after years under international control. Financial details of the agreement were not disclosed by either party, but La Nación​, one of Argentina’s leading newspapers, reports ​that according to ​sources with knowledge of the operation, the sale closed at approximately $100 million​. That would be a significant drop from the $345 million Viacom paid for Telefé in 2016 before merging with CBS to form Paramount. “Telefé​ has long been a benchmark in Argentine television, and we are confident it will continue to grow and thrive under its new local management,” said ​Kevin​ MacLellan, Paramount’s President of Global Content Distribution and International Media​, who also expressed gratitude to the teams in Argentina who have contributed to Telefé’s success over the years. According to Argentine media, the sale process began earlier this year and attracted several interested buyers. But Scaglione, who heads a holding company that controls more than 30 media outlets nationwide, including newspapers, television channels, radio stations, and streaming services, prevailed. “It is a true honor and privilege that a prestigious company like Paramount has entrusted me and the group I lead with the future of Telefé,” Scaglione stated. “The acquisition of Telefé, a brand deeply embedded in Argentina’s cultural identity, marks the beginning of a new chapter focused on growth and integration of both organizations, to enhance production and maximize the competitiveness of the new multi-platform ecosystem we are building.” The acquisition gives Scaglione’s holding company control of Telefé’s main headquarters in Buenos Aires and its…

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Filed under: News - @ October 24, 2025 3:23 am