Linzor Capital to buy Chilevision
Chilean president fulfills promise to sell terristrial channelMexico City -- Private equity firm Linzor Capital reportedly will purchase Chilean TV network Chilevision for $130 million, according to local media.
Recently elected Chilean president Sebastian Pinera currently owns the terrestrial channel. A former media investor, Pinera is making good on his campaign promise to sell his stake in Chilevision to avoid a conflict of interest with his new role as head of state.
Argentine media giant Grupo Clarin and Mexico's Televisa had emerged as other potential buyers.
Chilevision's spokesman was not immediately available for comment.
Santiago-based Linzor Capital was established in 2006. Prior to that, co-founders Tim Purcell and Carlos Irigoin managed J.P. Morgan Partners Latin America.
The Chilean newspaper La Tercera reported that under the agreement, a group of Chilevision executives will acquire a minority stake in the broadcaster.
Chilevision produces news programs, celebrity gossip shows and series such as "Mujeres de Lujo" and "Infieles."