As reported in its splitting up plan released today in the National Securities Commission, the pay TV company will keep the bulk of the operations and divide the rest into two: one to be called Compañía Argentina de Cable and the other one Compañía Inversora de Redes. Both will be based in the Autonomous City of Buenos Aires. The first one will have US$199.5 million of the equity of the company (Unit 1 in the original splitting up project of Grupo Clarin) and the second one, US$193.6 million (Unit 3 in the original project). Clarin group will keep the unit that will concentrate US$4.762 billion (Unit 2 in the project).
Fintech will keep 40% of the main Cablevision (Unit 2) and the remaining 60% a new company called Cablevision Holding, which will have among its major shareholders Magnetto and Herrera de Noble families (through companies ELHN Grupo Clarín New York Trust, HHM Grupo Clarín New York Trust, GS Unidos CV LLC, CV Dominio S.A).
60% of Compañía Argentina de Cable will continue belonging to Grupo Clarin (Unit 1) and the remaining, which previously belonged to the holding of David Martinez, will pass to Alejandro Estrada.
As reported some weeks ago, Gerardo Martí Casadevall and Christoph Di Falco will undertake the 100% of the Compañía Inversora de Redes (Unit 3), although this is subject to regulatory approvals.
The Unit that keeps Grupo Clarín will comprise 24 pay TV licenses per physical link (in Salta, Mercedes, Oberá, Monte Caseros, Concepción del Uruguay, Villa Dolores, Marcos Juárez, San Nicolás de los Arroyos, Venado Tuerto, Pergamino, San Antonio de Areco, General Pico, Bragado, Pehuajó, Santa Rosa, Coronel Suárez, Carlos Casares, Dolores, Chascomús, Lobos, Saladillo, Chivilcoy y Formosa. And 2 (sic) pay TV licenses per radio link (San Pedro, and San Nicolás de los Arroyos).
Casadevall and Di Falco unit will have 22 of physical link and 10 (sic) of the radio in Villa Angela, Federación, Adolfo Chávez, Esteban Echeverría, Cañuelas, Rosario de la Frontera, Santo Tomé, Pilar, among others. It will also contemplate the shareholding of the company in A.V.C. Continente Audiovisual, Copetonas Videocable, Indio Rico Cable Color, Tres Arroyos Televisora Color, Wolves Televisión, Dorrego Televisión, Airevisión Internacional, Otamendi Cable Color, Ver TV, Teledifusora San Miguel Arcángel, Televisora Privada del Oeste, CV Berazategui, Cable Video Sur and La Capital Cable.