HISPASAT to take over Media Networks Latin AmericaThursday, April 29th, 2021
HISPASAT takes over Media Networks Latin America’s management and signal transport business
- Thanks to this agreement, HISPASAT reinforces its position as a leading operator for services related to satellite television in South America.
- This action is the first step in executing the 2020-25 Strategic Plan, aimed at turning HISPASAT into a services and satellite solutions company.
MADRID — HISPASAT, the Spanish satellite telecommunications operator of the Red Eléctrica Group, has signed an agreement to take over the management and signal transport business of Media Networks Latin America, a subsidiary of the Telefónica Group involved in multimedia. The agreement will be implemented gradually in upcoming months in strict compliance with regulatory provisions and without affecting the service that Movistar’s television clients receive in South America.
Media Networks Latin America currently provides signal transport and management services to the leading telecommunications and television operators in South America using HISPASAT’s satellites in the 61ºW position to reach millions of homes. The integration for these services will allow HISPASAT to strengthen its position as a leading operator in the region for satellite TV related services in Latin America. According to Dataxis, a company that specializes in market studies, there are more than 17 million satellite TV subscribers in South America, which reflects the importance of this technology in the region to bring informational, educational and entertainment content to a large part of the population.
First milestone of the Transformation Plan
This action falls within the lines of action proposed by HISPASAT in its 2020-25 Strategic Plan, which will turn the company from an infrastructure operator into a services and satellite solutions company. This transformation will take place by strengthening its current business, with actions like this agreement with Telefónica, and promoting growth to address the latest market trends, which will allow the company to diversify its offering through new technologies, services and strategic partnerships.
For Miguel Ángel Panduro, CEO of HISPASAT, “this agreement will make our multimedia business in Latin America more efficient and strengthen our strategic position in a vertical market where we provide service today to close to two million homes in Brazil, Bolivia, Chile, Colombia, Ecuador, Peru and Venezuela. With this highly important transaction for our company, we are expanding our presence in the value chain and promoting the high-quality service that Media Networks has providing in the region for all these years”.
Alfonso Gómez Palacio, CEO of Telefónica Hispanoamérica, commented that “we are very satisfied with the agreement we have reached with our trusted partner HISPASAT for the management and signal transport, Media Networks Latin America. This agreement will allow Telefónica Hispanoamérica to remain focused on the fiber optic rollout, as well as mobile connectivity with the latest generation networks to provide our clients the best experience. At the same time, the company is taking another step in its goal of making its operations in the region more dynamic”.
Links: HISPASAT; Media Networks
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