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News > Deals
AOL in for Telemundo?
August 30, 2001: 5:06 p.m. ET

CNN parent joins Viacom, NBC in bidding war, newspaper reports
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NEW YORK (CNNfn) - AOL Time Warner Inc. has entered the bidding war for Spanish language television company Telemundo Communications Group Inc., a press report said Thursday.

New York-based AOL Time Warner (AOL: down $2.50 to $36.00, Research, Estimates), parent of CNNfn.com, will be up against rival bidders Viacom Inc., NBC and Hispanic Broadcasting Co., the Wall Street Journal reported in its online edition.

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All four companies have signed confidentiality agreements, the WSJ.com said, which pegged any potential deal as being worth more than $3 billion.

Press reports said earlier this month that NBC was considering making a "serious" bid for Telemundo.

Sony and Liberty Media own 78 percent of Miami-based Telemundo, which provides 24 hours of programming to dozens of markets and reaches about 85 percent of Hispanic households in the United States.

Officials from AOL and Telemundo declined to comment while Sony and Liberty Media could not be reached for comment. graphic

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.