The Chilean Group Bethia -owner of Falabella retail stores- has executed a purchase-sale agreement for total shares of the free-to-air TV channel Mega (Red Televisiva Megavisión), owned by the holding Cristalerías Chile. The operation is USD 143,5 million worth and would become effective in March 2012.
The operation will enable Bethia Group to increase its business range, especially in face of the arrival of DTT in Chile. The holding – linked to Liliana Solari, Carlos Heller and Gonzalo Rojas- owns Falabella, which will step in the cellular market of such country as MVNO. Moreover, Bethia is involved in the transport (through the air company Lan), agricultural and real estate businesses, among others. Falabella is present in Chile, Argentina, Colombia and Peru.
The agreement contemplates the available and existing box of the channel, which as of September 30, amounted to USD 35 million. It also includes the three affiliates of the TV company: 95,3 radio; ETC TV children channel and the advertising investment fund Cingo.
According to Time Ibope’s figures disclosed by Diario Financiero, Mega is third with a 7,73-point average rating, after Chilevisión and TVN. In 1989, Megavisión was assigned to Claro Group -owner of Cristalerías Chile- through a public bidding process. The TV channel started broadcasting in October, 1990 and was the first private channel in becoming operational.
Therefore, the negotiation happens in a constantly moving Chilean TV market. In August, 2010, Time Warner bought the 100% of Chilevisión from President Sebastián Piñera, for USD 150 million. In turn, Luksic group acquired two thirds of Canal 13for USD 55 million during such year.