Warner Bros. to Sell TV Rights to Films in Spain to Sogecable
Time Warner Inc.’s Warner Bros. studio said it agreed to sell long-term television rights to its films in Spain to Sogecable.
The agreement is valued at about $1 billion, said a person who is familiar with it.
The agreement is similar to ones Time Warner signed with Kirch Group in Germany and Canal Plus in France and may include an option for Time Warner to take an equity stake in Sogecable’s satellite television service, Canal Satelite Digital, the source said. Sogecable is the Spanish partner of Canal Plus.
The films will premiere on pay-per-view on Canal Satelite Digital and will be shown on its premium pay TV channel, Canal Plus Spain, and Cinemania, another movie channel.
The agreement includes Warner Bros. films released starting in 1995 and future films.
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