AOL Time Warner to Join Telemundo Bid Battle?

03 September 2001

Telmundo Communications Group, the Spanish language TV service jointly controlled by Sony and Liberty Media, now has a fourth suitor. Joining extant Romeos – NBC, Hispanic Broadcasting and Viacom – is AOL Time Warner, insiders report. All four companies have inked confidentiality agreements, giving them access to Telemundo’s fiscal data.

The intervention of AOL TW, the world’s largest media company, could turn up the bidding thermostat by several degrees. Until now Viacom was said to be the most aggressive bidder – and the most likely to make an offer near to the $3 billion-plus expected by the vendors.

The bidding quartet’s heavyweight status underlines the increasing importance of America’s Spanish-speaking consumer market.

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