Discovery Acquires Stake in Company Behind Chile’s Mega

BUENOS AIRES: Discovery Communications has picked up a 27.5 percent stake in Bethia Comunicaciones, which owns Chilean broadcast channel Mega.

The deal, inked between Discovery and Grupo Bethia, is expected to close within the next few days. Carlos Heller, the president of Grupo Bethia, and Enrique R. Martínez, the president and general director of Discovery Networks Latin America/U.S. Hispanic and Canada (DLA/USH), spearheaded the agreement.

“This is great news,” Heller said. “The signing of this deal crowns the work we’ve been doing the last few years to promote the internationalization of Mega. The plan to become a producer of internationally relevant content is maintained and strengthened with this alliance. The management remains in the hands of Patricio Hernández and his executive team, who have my vote of confidence. He will continue to lead this project, which will now begin a new stage in its global strategy.”

“Discovery is a global company that is continually evaluating opportunities to expand its presence around the world, particularly in Latin America, where TV consumption continues to grow,” Martínez said. “Chile is an important Latin American territory in which we are proud to increase our presence through this opportunity to collaborate with the great team of Mega TV.”