Chilean telecommunications giant Empresa Nacional de Telecommunications, known as Entel, said Friday it is selling its controlling stake in Americatel Corp. to Los Angeles-basedPlatinum Equity
Americatel is of the largest U.S.-based providers of long distance in Latin America and the Caribbean and markets heavily to the U.S. Hispanic market.
Entel said in a Chilean securities filing that with would receive around $49.6 million, minus the company's debt, according to Reuters, for the 80 percent stake it is selling to Platinum, a private equity group that targets information technology and telecommunications companies.
The transaction, which is subject to regulatory approval, is expected to be completed within 120 days. With this sale, Entel is divesting all of its U.S. operations.
"We are very satisfied with the outcome of Americatel's sale process, which enables us to focus on our core business in the rest of the continent," said Richard Buchi, Entel corporate general manager.
& #8226; Walt Disney Co. 's interactive entertainment arm, Buena Vista Games Inc., said Friday it plans to release a PC video game this fall based on the popular ABC television show "Desperate Housewives."
In the game, players take on the role of a new Wisteria Lane housewife, who can uncover or create new scandals on the seemingly idyllic street where the show takes place.
"'Desperate Housewives' continues to be one of the most popular shows on primetime television and a pop culture phenomenon," said Bruce Gersh, senior vice president of business development, ABC Entertainment and Touchstone Television. "We are continually looking to build upon this successful franchise."
The game is being developed by Pasadena-based Liquid Entertainment, creators of the critically acclaimed strategy game "Battle Realms" and "Lord of The Rings: War of The Ring."
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Business Briefs: Disney, Technicolor Digital, Discus Dental, Univision, Entravision, Caminosoft
- Disney-ABC in Pact to Stream Shows Over Netflix
- Disney Posts Higher Earnings
- Business Briefs: Capstone Turbine, Arden Group, Universal Games, Alexandria Real Estate, Disney
- Disney Eliminating Buena Vista Name
- Disney, Apple in TV Show Deal
- Disney, Comcast Reach Programming Deal
- Sprint Nextel to Air ABC Content