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Turner Latin America invests in Esporte Interativo

Pan-regional media company Turner Latin America has acquired a “significant minority stake” in Brazilian free-to-air sports broadcaster Esporte Interativo.

Under the transaction, which will allow Turner to become the largest single shareholder in the broadcaster, the media company will pay R80m (€28.7m/$37.3m) for an undisclosed stake.

Turner will assume two of the seven seats on Esporte Interativo’s board of directors, but the broadcaster will continue to operate as an independent company and be run by its current managing partners.

The two parties added that the injection of capital will be “primarily invested in the acquisition, production and distribution of content.”

The broadcaster already has rights to numerous major sports properties, such as the Uefa Champions League and qualifying games for the 2014 Fifa World Cup.

“Having Turner as a strategic partner will significantly amplify our investment capacity and give us access to state-of-the-art content production,” Esporte Interativo chief executive Edgar Diniz said. “It will also provide the opportunity to develop new business models in the dynamic environment of multiplatform content distribution.”

Turner Latin America president Juan Carlos Urdaneta added: “This investment in Esporte Interativo marks an important strategic step for Turner in Brazil, our largest market in Latin America. Esporte Interativo has carved out a unique position in the Brazilian sports media landscape thanks to its compelling programming, multi-platform presence, and seasoned management team.”