Canal 13 Finalizing Friday

Grupo Luksic’s agreement to acquire a 66% stake in Canal 13 from the Catholic University of Chile will be finalized Friday, according to a spokeswoman from Canal 13. The deal, which had originally been announced in August when the university announced the sale of the stake to Grupo Luksic, will cost $55m. The university will retain the 33% stake Luksic is not acquiring. Proceeds from the stake sale will pay down the broadcaster’s debt. Grupo Luksic is controlled by the Luksic family, which also owns stakes in Banco de Chile and Antofagasta. Andronico Luksic says the acquisition provides an opportunity to enter a part of the communication’s sector in which he expects considerable growth.