FOX International Channels to Acquire Additional Stake in LAPTV from MGM
Los Angeles, CA – May 22, 2012 – FOX International Channels (FIC), News Corporation’s international multimedia business that develops, produces and distributes more than 350 channels worldwide, today announced that it has increased its stake in leading international pay TV service, LAPTV, with the acquisition of MGM’s minority non-voting shares.
MGM has also entered into a long- term content output agreement with LAPTV. The deal gives LAPTV access to all new MGM feature films in Latin America, excluding Brazil.
LAPTV, which operates Moviecity and a number of other leading premium channels in Latin America, is a joint venture that also includes Paramount Pictures.
Financial details of the transaction were not disclosed.