(Updates with closing share price in final paragraph.)
Oct. 17 (Bloomberg) -- America Movil SAB, the phone carrier controlled by billionaire Carlos Slim, agreed to buy DLA Inc., adding video-on-demand programming and Latin America cable-TV channels including Playboy TV and the Concert Channel.
America Movil and Claxson Interactive Group Inc., DLA’s current owner, expect to complete the transaction in the fourth quarter after gaining regulatory approval, according to a filing today to Mexico’s stock exchange. Mexico City-based America Movil didn’t disclose financial terms.
Slim is venturing into video programming after becoming the biggest pay-TV provider in Latin America through a series of acquisitions over the past decade. America Movil had 11.6 million pay-TV subscribers at the end of June, with cable and satellite systems in countries including Brazil, Chile and Peru.
Closely held Claxson is based in Buenos Aires. Its DLA unit has a collection of sports, music and adult entertainment channels, and it offers digital distribution over pay-TV networks, Internet and mobile devices for Hollywood studios, according to its website.
America Movil slid 1.9 percent to 15.5 pesos at the close of trading in Mexico City. The shares have dropped 13 percent this year.
--With assistance from Carlos Manuel Rodriguez in Mexico City. Editors: Ville Heiskanen, Peter Elstrom
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