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Group Abril now has entire stake of MTV Brazil

Indiantelevision.com Team

(8 December 2009 8:20 pm)

MUMBAI: Group Abril has acquired the remaining 30 per cent of Viacom's interest in MTV Brazil, expanding its abilities to exploit the brand across TV, online, mobile, radio, licensing and other platforms.

With the new deal, the MTV Brazil joint venture between Group Abril and Viacom has been dissolved.

According to Grupo TV general director André Mantovani, the new structure will enable the expansion of MTV Brazil. "With the exclusive license to use the brand, we have complete autonomy in all businesses. This will allow us to launch other initiatives, even on media platforms that we don't currently service," he commented.

MTV Networks Latin America managing director Sofia Loannou added, "Moving from a minority-owned joint venture to a licensing agreement is in line with our international strategy for growth where our brands can be maximized in key markets, such as Brazil."