WarnerMedia has announced that it has acquired Ole Communications’ minority stake in HBO Brasil Partners. Thus, WarnerMedia has become the sole owner. Last October the production company owned by AT&T agreed to acquire Ole Communications’ minority stake in HBO Ole Partners, a joint venture running HBO operations in Latin American Spanish-speaking countries, also becoming the sole owner. According to information provided by WarnerMedia, both transactions have already been closed.
Last October WarnerMedia reported that although it had the option to acquire the Brazilian operation, it would not do so for the time being owing to Brazil’s unpredictable regulatory framework.
In this way, WarnerMedia will have full control over HBO premium channels network, basic Pay TV channel Cinemax and both HBO Go service offerings (OTT and TV Everywhere).
Through a press release, WarnerMedia International Networks President Gerhard Zeiler said: “In the first place, the acquisition will allow us to bring localized versions of our upcoming U.S. streaming service HBO Max to consumers throughout the region.” The executive had expressed the same idea in October.