This story originally appeared on Zacks

ViacomCBS VIAC a short while ago announced that ViacomCBS Networks Worldwide (“VCNI”) done the acquisition of a greater part stake in Fox TeleColombia and Estudios TeleMexico from The Walt Disney Organization DIS. The phrases of the transactions have not been disclosed.
The acquisition is expected to greatly enhance ViacomCBS’ capabilities to produce Spanish-language content. It will also assistance ViacomCBS Global Studios (“VIS”) to capitalize on major material need on its worldwide streaming platforms this sort of as Pluto Tv and Paramount+.
VIS will work Fox TeleColombia and Estudios TeleMexico as a collaborative partnership with the latter’s founding spouse and children.
The acquisition supplies VCNI with entire obtain to the studio functions of FoxColombia and Estudios TeleMexico’s in Mexico and Colombia, which is envisioned to bolster the generation abilities of ViacomCBS.
It will also help ViacomCBS to obtain FoxColombia’s and Estudios TeleMexico’s strong content portfolio, with several genres and which includes well-liked dramas, films and documentaries. The information will improve ViacomCBS’s streaming platforms Pluto Tv set and Paramount+ along with its linear networks all close to the globe.
The acquisition adds to VCNI’s growing portfolio in Latin The usa. In September 2021, VCNI obtained Chilevision from Warner Media. The economic terms of the deal had been not disclosed. The acquisition was portion of ViacomCBS’s strategies to broaden its reach and profitability in Latin America.
Apart from intercontinental expansions, the fast adoption of Paramount+ bodes nicely for ViacomCBS.
In the streaming room, Paramount+ is experiencing stiff competitiveness from gamers like Netflix NFLX, Disney’s Disney+ and Peacock from Comcast CMCSA division NBCUniversal.
ViacomCBS’ shares have underperformed Netflix and Comcast on a calendar year-to-date basis. The inventory has declined 10.8% yr to date versus Netflix’s rise of 21.7%. Comcast’s and Disney’s shares have declined 1% and 16.4% year to date, respectively.
 

Even so, the developing acceptance of Disney+ has been…