Argentine Free-to-Air TV channel Telefé officially announced on October 23 that US audiovisual giant Paramount had sold 100% of Telefé assets to Argentine media businessman Gustavo Scaglione.

Scaglione himself had preannounced the transaction on October 1 during an interview on América TV, another Free-to-Air channel in which the media businessman has an ownership interest.

The press release included the following: “With this transaction, Scaglione completes one of the most significant deals in the local media and communications industry. The purchasing company, Integra Capital S.A., with the participation of José Luis Manzano, has acted as structurer and financial advisor for the transaction. Scaglione is the owner of Televisión Litoral S.A. and La Capital Multimedios, two groups with major assets in television, radio and print media in several regions of Argentina. With the integration of Telefé, the holding consolidates its position as the most important one in the country.”

“This day marks the beginning of a new stage that combines experience, talent and vision to continue building a shared future of growth, to achieve new goals and to create value for all, with the goal of strengthening production and maximizing the competitiveness of the new multiplatform ecosystem we have built,” asserted the new owner of Telefé. Darío Turovelzky will continue serving as CEO of the TV channel under the new ownership.