Telefe is one step away from being sold: the million-dollar amount requested by Paramount

After months of speculation,  Paramount has finally accelerated the sale of its assets in Argentina and Chile,  with Telefe as the main jewel. The consulting firm  Quantum Finanzas, led by economist Daniel Marx,  was in charge of formalizing the process, initiating a silent but intense bidding war among powerful local businesspeople.

The most-watched channel on Argentine broadcast television attracted several major groups. Among them,  the Werthein family (Los W group), Eduardo Eurnekian (Corporación América) and Marcelo Fígoli (Alpha Media), who had also recently shown interest in Telefónica. They were joined by figures from the entertainment and production world, such as Tomás Yankelevich —son of the historic programming manager Gustavo Yankelevich— and Martín Kweller, founder of Kuarzo Entertainment.

No foreign group participated in the competition.  The sale of Telefe became a local matter, marked by familiar faces from the Argentine media and business world.

The price and context of a key sale

Paramount set an initial price of 100 million dollars for its operations in Argentina and Chile. The figure includes, in addition to Telefe, the Chilean channel Chilevisión, acquired by the group in 2021. However, sources close to the negotiation indicated that the final amount could be around 80 million, and the possibility of selling the assets separately was not ruled out.

The requested amount is far from the 345 million dollars that Viacom paid for Telefe in 2016, before merging with CBS and giving rise to Paramount. The depreciation of the assets and the new regional media and economic landscape led to a more adjusted valuation.

Meanwhile,  Paramount continued its strategy of downsizing in the country. In the last two years, it implemented voluntary retirements and early retirements, seeking to make its business more attractive to potential buyers. It also redefined its management model, focusing on profitability.

A parallel global negotiation

The sale of Telefe took place in parallel with another high-impact move for Paramount: its possible global merger with Skydance Media, the American production company. Although the announcement was made a year ago, the operation is still awaiting approval from United States antitrust authorities.

This context of global restructuring pushed  Paramount to divest non-strategic assets in South America. The decision was finally confirmed this year, when Quantum Finanzas formalized the sales mandate and began receiving concrete proposals.

An open secret that became official

Rumors about the sale of Telefe had been circulating for some time. Even Darío Turovelzky, executive vice president for Latin America at Paramount Global, acknowledged in an interview with La Nación in May of last year that there was strong interest in the channel, although he avoided confirming that it was for sale.

Now, with at least one offer about to close, the story seems to be in its final chapter. Telefe, an emblem of Argentine television, is one step away from changing hands. Everything indicates that the new owner will be a local player with media experience and a clear expansion strategy.