DIRECTV in Sale of Stake in Pasiones TV, LLC

January 22, 2014

On January 22, 2014, DIRECTV Latin America LLC entered into a definitive agreement pursuant to which DIRECTV will sell all of its equity interest in Pasiones TV, LLC to Media World, LLC, its partner in the joint venture. The sale is being made in connection with the concurrent sale by Media World of the assets of Pasiones and other related businesses to Hemisphere Media Holdings, LLC. Pasiones is a channel dedicated to showcasing the most popular telenovelas and it is distributed on DIRECTV’s platforms to approximately 3.8 million subscribers in the United States and 7.2 million subscribers in Latin America. As part of the sale, DIRECTV negotiated agreements for the continued distribution of Pasiones on its U.S. and Latin American platforms.

DIRECTV is the leading satellite television provider in Latin America and the Caribbean, offering a premier television experience to more than 16 million customers.