Panamericana TV Changes Hands: New Owners Acquire ‘TV Corner’ Network

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October 27, 2024

Mining Executive And Producer Acquire Panamericana Televisión

Lima, Peru – A notable change in ownership is underway at Panamericana Televisión, one of Peru’s longstanding television networks. Sources indicate that the channel was purchased last Friday, after several months of negotiations, by Jimmy Picker, Founder of Minera Paltarumi, and Susana Umbert, a well-respected television producer.

Deal Closes On An Iconic Station

The formal announcement is anticipated in mid-November,coinciding with the television station’s anniversary. While the parties involved have yet to issue official statements, it’s confirmed that the Schütz family, who controlled 95% of the shares, will no longer hold ownership, thereby concluding their stewardship of the network.This transition marks the end of an era for Panamericana Televisión.

Financial Details And Network’s Challenges

Although the precise financial terms of the acquisition remain undisclosed, sources suggest the transaction value was modest, reflecting the channel’s recent financial difficulties. Panamericana televisión has faced ample tax debts, legal challenges, and administrative hurdles in recent years, accumulating over S/ 117 million in outstanding debts in the previous decade. Some of these debts were later deemed unenforceable by the Constitutional Court.

According to reports, advertising revenue is currently the company’s primary source of income. The station recently concluded insolvency and restructuring processes overseen by Indecopi and Sunat, securing payment agreements and continued operation authorization under creditor supervision.

The New Owners

Jimmy Picker Pinillos, the primary financier in the deal, is the principal shareholder and leader of Minera Paltarumi, a company specializing in small-scale gold processing. Paltarumi has risen to prominence, ranking tenth among Peru’s gold exporters, shipping 3,200 kilograms of gold in 2024.

The company has invested over US$40 million in fixed assets, aiming to optimize and modernize its operations. In 2024 alone, Paltarumi reported annual sales of US$267 million, a net profit of US$16 million, and an EBITDA of US$31 million.

Susana Umbert, a television producer with over 35 years of industry experience.

Alongside Picker, Susana umbert brings extensive experience to the ownership group. Umbert has dedicated more then 35 years to the television industry, beginning her career at América Televisión in 1989. She has since held key roles in production and management at various television companies, including Latina Televisión, where she served as Production and Entertainment Manager from 2012 to 2022. she recently founded WIT Entertainment Media and Infinite, producers of multiplatform content. In 2024, she forged a strategic partnership with Panamericana TV for the relaunch of “The Value of truth,” alongside journalist Beto Ortiz.

Key Facts: Paltarumi at A Glance

metric	Value (2024)
Annual Sales	US$267 Million
Net Profit	US$16 Million
EBITDA	US$31 Million
Gold Exported	3,200 Kilograms

It is indeed worth noting that both Jimmy Picker and Minera Paltarumi were previously subject to tax investigations between 2020 and 2021, pertaining to commercial competition and potential money laundering allegations leveled by competitors.

The Changing Landscape of Peruvian Media

The acquisition of Panamericana Televisión mirrors a broader trend of consolidation and diversification in the Peruvian media landscape. As traditional television networks grapple with the rise of streaming services and evolving audience preferences,new ownership structures are emerging. This shift highlights the importance of adaptability and innovation in the competitive media market.

The Peruvian media sector has experienced significant growth in recent years,with increasing investment in digital platforms and content production.According to a report by the Peruvian Ministry of Culture, the media and entertainment industry contributed approximately 1.8% to the country’s GDP in 2023.

Did You Know? Peru has seen a 25% increase in digital media consumption over the past five years, according to comscore data.

Frequently Asked Questions

• What is happening with Panamericana Televisión? Panamericana Televisión has been acquired by Jimmy Picker and Susana Umbert.
• Who is Jimmy Picker? Jimmy picker is a mining executive,Founder and principal shareholder of Minera Paltarumi.
• Who is Susana Umbert? Susana Umbert is a seasoned television producer with over 35 years of experience in the industry.
• What is Minera paltarumi? Minera Paltarumi is a Peruvian mining company specializing in small-scale gold processing.
• Why was Panamericana Televisión sold? The channel faced financial difficulties, including significant debts and legal challenges.

What impact will this acquisition have on the programming and direction of Panamericana Televisión? Only time will tell.

Share your thoughts on this developing story in the comments below!

What is the estimated value of the acquisition of Panamericana TV by Andes Capital Partners?

The Acquisition Details: A Shift in Peruvian Media ownership

On October 14,2025,Panamericana Televisión (Panamericana TV),a leading television network in Peru,officially announced its change in ownership. The network, often referred to as “TV Corner” due to its ancient significance and prominent position in the Peruvian media landscape, has been acquired by a consortium led by investment firm, Andes Capital Partners. The deal, finalized after months of negotiation, marks a meaningful shift in the control of one of Peru’s most influential broadcasting companies.

* Key Players: Andes Capital Partners, Panamericana Televisión (Panamericana TV), former shareholders (the Canales family).

* Deal Value: While the exact financial terms remain undisclosed, industry analysts estimate the transaction to be valued at approximately $150 million USD.

* Regulatory Approvals: The acquisition received necessary approvals from the Peruvian Ministry of Transport and Communications (MTC) and the Competition Defense Commission (INDECOPI) ensuring compliance with Peruvian media laws.

Historical Context: Panamericana TV’s Legacy

Panamericana TV holds a crucial place in Peruvian television history. Founded in 1956, it was the first privately-owned television station in the country. For decades, it served as a cornerstone of Peruvian news and entertainment, shaping public opinion and cultural trends.

* Early years (1956-1980s): Pioneering television broadcasting, establishing a strong brand identity.

* Political influence (1990s-2000s): Played a key role during periods of political upheaval, including the Fujimori era.

* Modern Era (2010s-Present): Adapting to the digital age, facing increased competition from cable and streaming services.

Andes Capital Partners: The New Vision for Panamericana TV

Andes Capital Partners, a well-respected investment firm specializing in growth equity in Latin America, has outlined a strategic vision for Panamericana TV.Their plans focus on modernization, digital change, and content diversification.

* Investment Strategy: Andes Capital Partners intends to invest heavily in upgrading Panamericana TV’s infrastructure, including studio facilities and broadcasting equipment.

* Digital expansion: A key priority is expanding the network’s digital footprint through enhanced streaming services, social media engagement, and online content creation. This includes a revamped Panamericana TV website and mobile app.

* Content Diversification: The new owners plan to diversify content offerings beyond traditional news and entertainment, exploring opportunities in sports broadcasting, documentaries, and original programming.

* Focus on Data Analytics: Leveraging data analytics to better understand audience preferences and tailor content accordingly. This will involve implementing advanced audience measurement tools and utilizing data-driven insights for programming decisions.

Impact on the peruvian Media Landscape

The acquisition of panamericana TV is expected to have a ripple effect throughout the Peruvian media industry.

* Increased Competition: The influx of investment and the focus on digital transformation are likely to intensify competition among television networks in Peru.

* Potential for Innovation: Andes Capital Partners’ commitment to innovation could lead to the development of new programming formats and broadcasting technologies.

* Shift in Political Dynamics: Changes in ownership often influence editorial policies and political coverage.It remains to be seen how the new owners will approach these sensitive areas.

* Consolidation Trends: This acquisition is part of a broader trend of consolidation within the Latin American media industry, driven by the need to achieve economies of scale and compete effectively in the digital age.

Key Personnel Changes & future Leadership

Following the acquisition, several key personnel changes have been announced.

* New CEO: Ricardo Diaz, a seasoned media executive with experience at TelevisaUnivision, has been appointed as the new CEO of Panamericana TV.

* Editorial Independence: Andes Capital Partners has publicly stated its commitment to maintaining editorial independence and journalistic integrity.

* Restructuring Plans: A comprehensive restructuring plan is underway to streamline operations and improve efficiency. This includes potential staff reductions in certain departments.

Challenges and Opportunities Ahead

While the acquisition presents significant opportunities for Panamericana TV, several challenges lie ahead.

* Maintaining Audience Loyalty: Successfully navigating the transition and retaining the network’s loyal viewership will be crucial.

* Adapting to Changing Consumption Habits: The rise of streaming services and on-demand content requires Panamericana TV to adapt its business model and content strategy.

* Navigating the Regulatory Habitat: The Peruvian media landscape is subject to evolving regulations and political pressures.

* Economic Uncertainty: Peru’s economic outlook could impact advertising revenue and investment opportunities.

Relevant Keywords:

Panamericana TV, Andes Capital Partners, Peruvian media, TV Corner, Peruvian Television, Media Acquisition, Ricardo Diaz, Latin American Media, Digital Transformation, Streaming Services, News Broadcasting, Entertainment, Peruvian News, Media Ownership, Television Networks,