MIAMI & BUENOS AIRES, Argentina--(BUSINESS WIRE)--Claxson (Pink Sheets:
XSONF) announced today that it has, with the support of a group of the Company
’s controlling shareholders, the Cisneros Group, Hicks Muse, Roberto Vivo and Luis H. Moreno (collectively, the
“Group
”), submitted to the special committee of independent directors a new amendment to the going private proposal to increase the price per share offered to acquire for cash all of the outstanding Class A Common Shares of the Company held by the shareholders other than the Group from $12.35 per share to $13.50 per share.
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The offer is subject to approvals and definitive documentation and this proposed transaction, or any similar transaction, may not take place on these or any other terms.
About Claxson
Claxson (Pink Sheets:XSONF - News) is a multimedia company providing branded entertainment content targeted to Spanish and Portuguese speakers around the world. Claxson has a portfolio of popular entertainment brands that are distributed over multiple platforms through its assets in pay television and the Internet. Headquartered in Buenos Aires, Argentina and Miami, Florida, Claxson has a presence in the United States and all key Ibero-American countries, including without limitation, Argentina, Mexico, Chile, Brazil, Spain and Portugal. Claxson’s principal shareholders are the Cisneros Group of Companies and funds affiliated with Hicks, Muse, Tate & Furst Inc.
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations or beliefs of Claxson's management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. For a detailed discussion of these factors and other cautionary statements, please refer to Claxson's annual report on Form 20F filed with the U.S. Securities and Exchange Commission on December 17, 2007.
