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MURDOCH TO ANNOUNCE JOINT VENTURE TO ACCESS LATIN AMERICA
Published November 20, 1995
Rupert Murdoch's News Corp. is reportedly set to announce plans to deliver TV services across Latin America, according to Sallie Hofmeister of the L.A. TIMES. Murdoch will divulge a joint venture with the Globo network, Brazil's largest programmer, and Mexico's Grupo Televisa, the world's leading creator of Spanish language programming. Murdoch recently stated News Corp. would spend close to $500M with Globo to "launch Netsat satellite service by March," and predicted partners could have 4.5M subscribers within several years. But analysts say since the market is "less developed," the venture is comparable to Murdoch's StarTV in Asia which "has been living off modest advertising revenues as it builds subscriptions." The new venture "could combine" Fox programming with that of Globo, Grupo Televisa, and the new global sports venture with Liberty Media. A source close to News Corp. said TCI Chair John Malone "is in on this, too" as he has soccer rights in Argentina (L.A. TIMES, 11/20). The move "is a big leap" for Murdoch in his drive to become a global distributor of TV programming (John Lippman, WALL STREET JOURNAL, 11/20).