Colombia: Business Objective of the Cisneros Group of Companies

TV Investment Will Be the Core of Its Strategy 
 
 The Cisneros Group has solid experience in the operation of open television channels not only in Venezuela, but also in other countries in Latin America as well as internationally (Chile, Puerto Rico, Colombia, The United States and Portugal).

 The Cisneros Group produces 6,500 hours of television content a year, and in Colombia will offer varied, informative and entertaining programming of the highest quality 7 days a week, 365 days a year.

Bogotá, May 18, 2009 – The Cisneros Group of Companies plans to invest in television in Colombia. Television, which is the cornerstone of the Cisneros Group’s business, will represent great benefits to the country’s economy. The plan contemplates obtaining the license to operate the third Colombian private television channel, and the establishment of a grand television production facility for content to be marketed in Latin America, and which will generate local employment opportunities.

“Colombia is a very interesting market for the Cisneros Group of Companies. We consider that it has great potential for continuing with our plan of expansion through television, the business where the Group has the most experience,” said Steven Bandel, Co-Chairman and Chief Executive Officer of the Cisneros Group.

The Cisneros Group is intent on winning the bidding process for the third private channel in the country, and in order to achieve this, relies on the leadership and deep knowledge it has in the mass media sector, entertainment and telecommunications internationally, especially in Latin America.

“We want to contribute to the growth of the television sector in Colombia, and we will do it through our solid experience in television production and development. Our programming has been adapted with enormous success in 104 countries, with a high level of acceptance in diverse cultures, and has been translated into more than 20 languages,” said Steven Bandel.

Production Center and Experience in Colombia
The Cisneros Group will contribute to the growth of the industry and the international expansion of Colombian television by creating a large production facility in the country. This project will include an investment of over $250 million.

"We will contribute through this production center with the development of a television network, generating vast growth in the industry, creating employment for actors, producers, writers, set designers, etc., introducing new technology and providing international exposure to all those involved," said the executive.

The Cisneros Group of Companies has valuable experience in TV production in the country being that it was a founding member, shareholder, and active participant in establishing the technical infrastructure of the Caracol channel. Additionally, it was a pioneer in introducing paid television in Latin America through DirecTV. This brand was brought to Colombia together with the Carvajal Group, establishing a leadership position in the domestic market with high levels of excellence in programming, coverage, digital signal transmission and attractive specialized programming for the television viewer.

“The history of the Cisneros Group in Colombia is interesting since it relates to sectors that offer technological products, entertainment services, marketing of consumer products, mining, and the most important to our intention of becoming operators of the third Colombian channel: participation in creating mass media,” said Steven Bandel.

Venevision is the most representative and emblematic brand to demonstrate this experience in entertainment. The network for almost 50 years has accumulated a deep knowledge of the tastes and needs of the Latin-American television viewer.

“We have in-depth experience in all the genres of programming, and we will use it to develop quality programming. In Colombia we will offer a channel for the people, with room for all kinds of programming: dramas, soap operas, documentaries, entertainment news programs, musical programs, reality-shows and news programs, among others. The Colombians will have more television and more importantly quality television,” said Steven Bandel.

The name Venevision is recognized by Colombian viewers, who have for many years enjoyed telenovelas, musical programs and children’s programming that have been distributed and marketed by Venevision International throughout Colombia with a high level of acceptance.

“Venevision International is one of the two most important programming distributors worldwide, and has presence on five continents. We are currently entering the Chinese market with the production of telenovelas in Beijing, while also translating our telenovelas into Mandarin,” added Steven Bandel.

New Employment Opportunities
The Cisneros Group will also stimulate job creation in Colombia. It will promote local talent providing opportunities and job stability to artists, and the possibility of being introduced internationally. The Cisneros Group currently generates more than 3,500 jobs directly, and indirectly at about a ratio of 4 to 1 with investment in mass media.

“Thanks to the success of its various companies, the Cisneros Group of Companies has the resources necessary not only to finance the assembly of the channel, but also to guarantee its sustainability. Satisfying the demands of the Colombian television viewers requires a solid infrastructure, advanced technology and the best human talent,” said Bandel.

In turn, the operation of the third channel by the Cisneros Group of Companies will contribute to the democratization of the mass media industry in the country. The Group would guarantee the independence and neutrality of the informative services by means of transparent, impartial and balanced management, which is exactly what television viewers demand nowadays.

The Cisneros Group began investing in Colombia many years ago, and once again it is betting on the country by contributing not only better television but also to strengthen the economic ties and brotherhood that would benefit both neighboring nations.

About the Cisneros Group
The Cisneros Group of Companies is one of the largest privately held media, entertainment, telecommunications and consumer products organizations in the world. The Cisneros Group owns or holds interests in companies ranging from broadcast television, television production, and telecommunications to beverage businesses and travel resorts. Through its diverse businesses and world-class partnerships, the Cisneros Group of Companies delivers some of the top brands and highest-quality services to the 550 million Spanish- and Portuguese-speaking consumers in the Americas and Europe. The Cisneros Group sells TV programming and other media content on five continents and in over 90 countries. Among the companies part of the Cisneros Group of Companies are Venevision, Venevision International, Venevision Productions, Cerveceria Regional and the baseball team Leones del Caracas.