BothTime Warner Inc. andViacom Inc. aremaking separate plays for Telefónica SA's Argentinianbroadcaster Telefe, in a potential deal that could be worth up to $400 million,The Wall Street Journal reportedSept. 28, citing people familiar with the talks.
Both partiesare expected to submit concrete offers within days, with Telefónica announcingits decision by October, according to the report.
Mediaconglomerate Grupo Cisneros is also reportedly eyeing the Argentinianbroadcaster.
Time Warneralready operates a number of channels in Latin America, such as HBO, CartoonNetwork, TNT and CNN International.
Meanwhile,executives of the embattled Viacom reportedly favor the purchase of Telefe dueto the latter's cash flows.