Claxson Considers Proposal For Taking Company Private

MIAMI/BUENOS AIRES, March
26: Claxson Interactive Group has formed a special committee of independent
directors to evaluate a proposal to take the company private.

With the support of the
company’s controlling shareholders, the Cisneros Group, Hicks Muse, Roberto
Vivo and the Liberman family, Claxson has announced it wants to acquire all
outstanding shares for $10.50 per share.

“In light of the recently
announced pay-TV and radio sale transactions and given that Claxson does not
intend to reinvest the proceeds in new assets, Claxson's operating companies
will become significantly smaller,” explained Claxson's chairman and CEO,
Roberto Vivo. “The increase of public company costs will make it difficult for
a company like Claxson to continue to operate as a reporting company.”

At the time of the
announcement no assurance was given that the proposed transaction, or any
similar transaction, will take place on these or any other terms.

Claxson provides branded
entertainment content targeted to Spanish and Portuguese speakers around the
world.