The Cisneros Group of Companies to Bid For Third Private TV Channel in Colombia

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Gustavo Cisneros, Chairman and Chief Executive Officer of the Cisneros Group of Companies, today announced that the Cisneros Group plans to bid in partnership with Colombian businessman Luis Carlos Sarmiento for a license to operate Colombia's new third privately-owned television channel. Mr. Cisneros said he will make the bid in the next few weeks in order to expand the media entertainment alternatives available to that Latin American nation.

It gives me great pleasure to participate in this process, which is why we just met in Bogota with the board of the National Television Commission of Colombia (CNTV)

    "It gives me great pleasure to participate in this process, which is why we just met in Bogota with the board of the National Television Commission of Colombia (CNTV)," Mr. Cisneros said.

Luis Carlos Sarmiento is one of the most important businessmen in Colombia with interests in telecommunications, construction and finance.

Other groups reportedly interested in bidding on this new commercial channel include Casa Editorial El Tiempo with the Planeta Group of Spain; Grupo Prisa of Spain possibly with Televideo; Group Angel Gonzalez of Miami alongside Camilo Cano; RTI beside NBC Universal Telemundo and Televisa of Mexico.

It is expected that the new channel will go on the air in 2009.

About the Cisneros Group of Companies

The Cisneros Group of Companies is one of the largest privately held media, entertainment, telecommunications and consumer products organizations in the world. The Cisneros Group owns or holds interests in companies ranging from broadcast television, television production, and telecommunications to beverage businesses and travel resorts. Through its diverse businesses and partnerships, Cisneros delivers some of the most recognized brands and highest quality services to the 550 million Spanish- and Portuguese-speaking consumers in the Americas and Europe. The Cisneros Group sells TV programming and other media content on five continents and in over 90 countries.

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Antonieta Lopez
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