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Fox buys Paramount of LAPTV channels business

Fox has bought fellow studio Paramount out of the LAPTV channels business.

LAPTV operates premium movie channels in Latin America and was operated as a three-way joint venture between Fox, MGM and Paramount. Last year Fox’s channels division, FIC, bought MGM’s share of the business and has now done the same with Paramount.

The deal means FIC has full control of LAPTV.

FIC said that in addition to buying Paramount out of the JV it has renewed a movie output deal with the studio, guaranteeing its features for the LAPTV channels, which include the Moviecity offering, in the region (excluding Brazil).

LAPTV also has movie deals with Fox and MGM.

Edgar Spielmann has run the business since 2009 and was recently upped to executive VP and COO, FIC, Latin America.

“Premium channels and non-linear businesses are a priority for our company all over the world, and what LAPTV has built in Latin America is a powerful blueprint globally. The expertise of Edgar and the LAPTV team will be a great competitive advantage for FIC,” said Carlos Martinez, president of FIC Latin America.