Claxson Signs Agreement to Sell Chilevision

Claxson Signs Agreement to Sell Chilevision

SANTIAGO, Chile, Dec. 7 /PRNewswire-FirstCall/ -- Claxson Interactive Group Inc. (BULLETIN BOARD: XSONF) today announced it has signed an exclusivity agreement with Bancard, S.A, a company related to the Chilean businessman Sebastian Pinera, to sell its Chilean TV network, Red de Television Chilevision S.A. Completion of the sale is conditioned upon, among other things, satisfactory completion of diligence by the proposed buyer, negotiation of a definitive purchase and sale agreement, and receipt of regulatory approval. The exclusivity agreement contains confidentiality provisions which prohibit disclosure of the proposed terms of the transaction.

About Claxson

Claxson (BULLETIN BOARD: XSONF) is a multimedia company providing branded entertainment content targeted to Spanish and Portuguese speakers around the world. Claxson has a portfolio of popular entertainment brands that are distributed over multiple platforms, including pay television, broadcast television, radio and the Internet. Headquartered in Buenos Aires, Argentina and Miami, Florida, Claxson has a presence in the United States and all key Ibero-American countries, including without limitation, Argentina, Mexico, Chile, Brazil, Spain and Portugal. Claxson's principal shareholders are the Cisneros Group of Companies and funds affiliated with Hicks, Muse, Tate & Furst Inc.


Source: Claxson Interactive Group Inc.

CONTACT: Roxana Alcala of Claxson Interactive Group Inc.,
+1-305-894-3518, or cellular +1-305-305-9158, or ralcala@claxson.com

Web site: http://www.claxson.com/


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