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NoticiasFinancieras (translated)
With interest in the license for the third channel expressed since 2008, there is now additionally the decision to develop a television content production center for Latin America in the country.
Steven Bandel, President and CEO of the Cisneros Group, noted that this project will involve a $250 million investment.
"We will contribute through this production center with the development of a television channel, 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.
Bandel noted that the Cisneros Group produces 6,500 hours of television content every year and that its programming has been adapted in 104 countries and translated into more than 20 languages.
"Colombia is a very interesting market for the Cisneros Group. We consider it to have great potential to contribute to our expansion plan and the way to do it is through the television, the area in which the Group has the most experience", concluded Bandel.
It is important to remember that it is not the first time that Cisneros participates in the country’s television business, because in the past it helped with the establishment of Canal Caracol and was a shareholder of the satellite TV operator DirecTV until 2007.