KUALA LUMPUR, Oct 29 -- WarnerMedia, a leading media and entertainment company has reached an agreement to buy Ole Communications’ minority stake in HBO Ole Partners, the joint venture between WarnerMedia and Ole Communications.
When the transaction closes, WarnerMedia will own 100 per cent of all HBO, MAX, Cinemax and HBO Go services in Spanish-speaking Latin America and the Caribbean.
Ole Communications is an international multi-media company and a pioneer in the Latin American pay television industry.
WarnerMedia and Ole Communications will continue their basic channel distribution business in Latin America.
The transaction is expected to be completed following the granting of relevant regulatory approvals.
Upon completion, HBO Ole Partners will fall under the purview of WarnerMedia chief revenue officer and WarnerMedia International Networks president, Gerhard Zeiler.
The ownership structure of HBO Brasil Partners, another joint venture between the companies that operates HBO in Brazil, is not affected at this time.
WarnerMedia and Ole Communications brought HBO programming services to the region for the first time when they founded the HBO Ole Partners joint venture in 1991 and launched a Spanish-language HBO-branded premium channel that same year.