Claxson Goes Private

July 16, 2008 World Screen

MIAMI/BUENOS AIRES, July
16: Claxson has completed its privatization process, offering up $13.75 per
share to all shareholders other than its majority owners.

Claxson began the move
towards going private early last year with an offer of $10.50 per share, which
was subsequently increased to $12.35 and $13.50 in the intervening months. The
$13.75 per share deal was approved by the board in April, and shareholders gave
their consent earlier this week.

The deal leaves Cisneros
Group of Companies; Hicks, Muse, Tate & Furst; Claxson CEO Roberto Vivo;
Luis H. Moreno and related entities as the company’s owners.

—By Mansha Daswani