Paramount Exits Argentina, Sells Telefé To Gustavo Scaglione Media Group

Gustavo Scaglione’s holding company has acquired Argentina’s media company Telefé from Paramount.

Telefé/Paramount

Paramount is pulling out of Argentina, selling its flagship broadcast network Telefé to a holding company led by Rosario-based businessman Gustavo Scaglione and José Luis Manzano.

The transaction, finalized on October 23, returns the country’s leading television network to local ownership after years under international control.

Financial details of the agreement were not disclosed by either party, but La Nación​, one of Argentina’s leading newspapers, reports ​that according to ​sources with knowledge of the operation, the sale closed at approximately $100 million​. That would be a significant drop from the $345 million Viacom paid for Telefé in 2016 before merging with CBS to form Paramount.

“Telefé​ has long been a benchmark in Argentine television, and we are confident it will continue to grow and thrive under its new local management,” said ​Kevin​ MacLellan, Paramount’s President of Global Content Distribution and International Media​, who also expressed gratitude to the teams in Argentina who have contributed to Telefé’s success over the years.

According to Argentine media, the sale process began earlier this year and attracted several interested buyers. But Scaglione, who heads a holding company that controls more than 30 media outlets nationwide, including newspapers, television channels, radio stations, and streaming services, prevailed.

“It is a true honor and privilege that a prestigious company like Paramount has entrusted me and the group I lead with the future of Telefé,” Scaglione stated. “The acquisition of Telefé, a brand deeply embedded in Argentina’s cultural identity, marks the beginning of a new chapter focused on growth and integration of both organizations, to enhance production and maximize the competitiveness of the new multi-platform ecosystem we are building.”

The acquisition gives Scaglione’s holding company control of Telefé’s main headquarters in Buenos Aires and its three regional affiliates in Rosario, Santa Fé, and Córdoba, completing one of the most significant transactions in Argentina’s media and communications sector.

L to R: Gustavo Scaglione and Dario Turovelzky, who continues as Telefé’s CEO under the new ownership.

Telefé

With diverse programming spanning entertainment, drama, sports, news, and multiple business units, Telefé reaches 95% of Argentine households, totaling more than 44 million people. It has also maintained its position as the country’s most watched free-to-air channel for 11 consecutive years. Telefé’s studio produces over 3,500 hours of Spanish-language content annually, including nine of the top 10 programs airing locally.

Darío Turovelzky, who served as General Manager of ViacomCBS South Cone and was tapped to oversee Telefé in 2021, will continue as the network’s CEO.

“The arrival of Gustavo Scaglione gives us a strong foundation to scale our business further,” Turovelzky said. “Staying true to our DNA, we will continue to push the boundaries of the industry to strengthen our ecosystem.”

Telefé manages a content library exceeding 33,000 hours and operates Telefé Internacional, a pay TV channel distributed to more than 8 million subscribers across more than 20 countries. Its programming is also available through its digital app, Mi Telefé.

Integra Capital S.A. advised Scaglione’s holding company on the transaction. The Raine Group, Quantum Finanzas, and G5 Partners served as financial advisors to Paramount.

Paramount also owns other media assets in Latin America. The company acquired Chilevisión in 2021. That same year, then ViacomCBS International bought a majority stake in Fox TeleColombia & Estudios TeleMexico as part of its Latin America expansion and efforts to boost its presence as a leading Spanish-language content producer in the region.

Source: https://www.forbes.com/sites/veronicavillafane/2025/10/23/paramount-exits-argentina-sells-telef-to-gustavo-scaglione-media-group/