Warner Bros. Discovery (WBD) has agreed to sell out news channel CNN Chile. The news was officially announced on April 5 through a joint press release issued by the audiovisual giant and the purchaser, a Chilean media businessman called Jorge Carey Carvallo who is currently the president of WBD Chile. Negotiations leading to the deal had been reported by local website El Filtrador earlier this year.

By means of this agreement, WBD’s CNN International Commercial sublicenses the CNN brand to Carey Media Holdings, owned by Jorge Carey Carvallo, for exploitation in the Chilean market. The method is already being used by CNN in other countries such as Brazil, where CNN Brasil is owned by local businessmen Rubens Menin and Joao Carlos Camargo. The agreement entered into by Carey also includes exclusive access to programs and productions released by CNN on a global scale.

Carey has confirmed that the channel will keep an independent editorial line. It will continue using WBD’s studios in Chile (Machasa building in Santiago de Chile). According to the press release, “the transaction is expected to close in the next few months.”