WarnerMedia agreed to buy Ole Communications’ minority stake in HBO Ole Partners, the joint venture between the two companies.
As a result of this latest agreement, WarnerMedia will have 100 percent ownership of HBO, Max, Cinemax, and HBO Go services in Spanish-speaking territories in Latin America and the Caribbean. Once the transaction is completed, HBO Ole Partners will be overseen by Gerhard Zeiler, chief revenue officer of WarnerMedia and president of WarnerMedia International Networks.
Zeiler remarked, “We’re excited to own all of HBO Ole Partners, which operates one of the leading premium, subscription-based television networks in the region. The acquisition will allow us to bring localized versions of our upcoming U.S. streaming service HBO Max to consumers in Spanish speaking Latin America and the Caribbean.”