On Wednesday, Shares of Viacom, Inc. (NASDAQ:VIAB), subtract -0.08% and closed at $38.58 in the last trading session. The last trading range of the stock ranges between $38.43 and $38.94. Viacom Inc. (Nasdaq: VIAB, VIA) and Telefónica S.A. recently declared the acquisition of Televisión Federal S.A. (Telefe), one of the main free-to-air channels in Argentina, by Viacom International Media Networks (VIMN). The transaction has been concluded for a total amount of US$345 million dollars in cash.
The transaction adds one of Argentina’s most popular television networks and biggest content producers to Viacom’s fast-growing portfolio of international TV networks and digital properties. Telefe reaches 95% of all households in Argentina, a country of 43 million, and has attracted about 33% share of viewership year-to-date in 2016. The network produces more than 3,000 hours of Spanish-language video content each year, counting seven of the top 10 programs presently airing locally, and has a library of 33,000 hours of local content. By combining Telefe with Viacom’s popular pay TV networks, which include MTV, Nickelodeon, Comedy Central and Paramount Channel, this deal further strengthens VIMN’s position in Argentina and Latin America.
With this transaction, Telefónica takes one step further in its asset portfolio administration, based on value creation and planned positioning.
ViaSat, Inc. (NASDAQ:VSAT), dropped -8.96% and closed at $73.55 in the last trading session. The last trading range of the stock ranges between $72.90 and $76.87. The company’s Market capitalization is $3.65 Billion with the total Outstanding Shares of 49.49 million. ViaSat Inc. (VSAT) recently declared that it has begind an underwritten public offering of 6,500,000 shares of its common stock. ViaSat intends to grant the underwriters an option to purchase up to an additional 975,000 shares within 30 days after the offering.
ViaSat anticipates to use the net proceeds from the offering for general corporate purposes, which may include financing costs related to the purchase, launch and operation of satellites, potential acquisitions, joint ventures and planned alliances, working capital or capital expenditures. Pending application of the net proceeds as described above, ViaSat may use a portion of the net proceeds to repay all or a portion of its outstanding borrowings under its revolving credit facility. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be accomplished.