Claxson Sells IberoAmerican Radio Chile to Prisa

“Claxson Pink Sheets:XSONF, the multimedia company that provides and distributes branded entertainment content to Spanish and Portuguese audiences around the world, announced that on July 31, 2007, after obtaining regulatory approval by Chilean antitrust authorities the company closed the sale of IberoAmerican Radio Chile to Grupo Latino de Radiodifusión, an affiliate of Prisa Group.

As a result of this transaction, all radio networks of IberoAmerican Radio Chile Pudahuel FM, Rock & Pop, Corazón, FM Dos, Concierto, Futuro, FM Hit and Imagina will be controlled by Grupo Latino de Radiodifusión. The total purchase price for IberoAmerican Radio Chile was US $74.6 Million.

“We are very pleased about this transaction with Prisa Group. I believe that the management of IberoAmerican Radio Chile has played a key role in the success of the radio networks and the creation of shareholder value. I am very proud to have worked with them all these years,” said Roberto Vivo, Claxson’s Chairman and CEO.”

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