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DirecTV Acquires Added 18.9% Stake In SKY Brasil For $604.8 Million

DOW JONES NEWSWIRES DirecTV Group Inc. (DTV) acquired an additional 18.9% stake in SKY Brasil from Globo Comunicacao E Participacoes SA, or Globo, for $604.8 million, part of a drive to expand in the U.S. and Latin America. DirecTV's purchase of 178.8 million shares from Globo and its affiliates pushes its ownership stake to 93% from 74% and cuts Globo's share to 7% from 26%. Unlike regionally based cable providers, DirecTV has benefited from higher activity in its Latin America business, though it soon will face more competition in the area. Brazilian regulators recently removed barriers to enter the pay-TV business and the country's largest landline phone company Tele Norte Leste Participacoes SA (TNLP4.BR, TNE), also known as Oi, has unveiled plans to launch an Internet-based TV service. DirecTV added 380,000 net new customers in the third quarter, with most of the growth coming in Latin America. That segment accounted for 15% of its revenue in the period. The middle class in several of its regions, including Brazil, is growing, Bruce Churchill, president of the company's Latin American arm, said recently, with Brazil's market expected to double. Globo had notified DirecTV in June that it intended to exercise its rights under a 2004 exchange agreement among SKY Brasil's then equity holders. The company has three more years to exchange the remaining 7% stake in SKY Brazil. Shares were down 10 cents at $39.55 in recent trading. -By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com

Stock News for Tele Norte Lest (TNE)
DateTimeHeadline
03/20/201206:40:48Brazil February Mobile Phone Subscriptions Up 1% From Jan
02/16/201205:02:58Brazil January Mobile Phone Subscriptions Up 1.22% From December
01/26/201208:11:25Brazil's Telecoms Regulator Orders Reduction On Tariffs
01/17/201205:17:20Brazil Mobile Phone Subscriptions Rise 19.36% In 2011
12/20/201104:54:10Brazil November Mobile Phone Subscriptions Up 1.92% From October
10/21/201110:26:36Brazil Stocks Open Higher On Hopes For Plan By France, Germany
09/26/201111:12:16CORRECT: Brazil August Mobile Phone Subscriptions Up 1.67% From...
09/26/201108:41:15Brazil August Mobile Phone Subscriptions Up 1.67% From July
07/27/201110:05:24Brazil June Mobile Phone Subscriptions Rise 1.06% On Month
06/22/201106:54:30Brazil May Mobile Phone Subscriptions Rise 1.16% On Month -Report
06/03/201114:46:42Brazil Telephone Co Oi Appoints Francisco Valim As CEO
04/21/201107:24:00Brazil March Mobile Phone Subscriptions Rise 1.42% On Month
03/15/201119:39:24Brazil's Oi Reports 3% Stake In Portugal Telecom
03/04/201117:31:22Tele Norte Leste To Focus Growth On Mobile, Internet, Pay TV
02/18/201118:11:09Brazil Telco Oi To Sell $7.2 Billion In New Common, Preferred...
01/27/201111:56:10Brazil Regulator Recommends Approval Of Vivendi Buy Of GVT
01/26/201104:59:06Portugal Telecom Signs Deal For Minority Stake In Brazil's Oi
01/26/201104:47:49Brazil's Oi, Portugal Telecom Formalize Industrial Alliance
12/16/201014:05:54DirecTV Acquires Added 18.9% Stake In SKY Brasil For $604.8 Million
12/02/201013:18:39CORRECT: DirecTV Sees More Than 30 Million Subscribers By 2013

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