Dario Werthein
Grupo Werthein has reached an agreement to acquire AT&T’s Vrio Corp. business unit. Vrio provides live and on-demand video services via DIRECTV Latin America, SKY Brasil and DIRECTV GO.
Grupo Werthein is a private holding company that has been doing business in Latin America and internationally for more than 100 years and has extensive experience in telecommunications, finance, insurance, agribusiness and real estate. They have agreed to acquire, subject to customary closing conditions, 100% of the equity in Vrio, a leading digital entertainment services company with 10.3 million subscribers1 across 11 countries in Latin America and the Caribbean.2
“Our vision of the future is to maximize these leading entertainment brands in Latin America, maintaining their leadership and increasing their value proposition by investing in technology and content aligned with the viewing habits of each one of the subscribers, including the next generation of consumers,” commented Dario Werthein, shareholder, Grupo Werthein.
Vrio’s infrastructure includes satellites and state-of-the-art broadcast centers that carry 4K video formats. Vrio’s broadband operations, along with other investments, including Torneos y Competencias in Argentina and WIN Sports in Colombia, will transfer to Grupo Werthein at close.
AT&T and Grupo Werthein are committed to a smooth transition and a seamless customer experience. Once the transaction is completed, Vrio subscribers will continue to have access to premium content and can expect the same services, channel lineup, content offerings and customer care experience.
“This transaction will further allow us to sharpen our focus on investing in connectivity for customers,” mentioned Lori Lee – CEO AT&T Latin America. “We remain committed to Latin America through our wireless business in Mexico and services for multinational corporations operating in the region.”
