CADE approves extension of joint venture formed by SBT, Record and RedeTV

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Summary:

The Brazilian Administrative Council for Economic Defense (Cade) has approved the request for a 14-year extension of the joint venture Simba Content, which is a joint venture between SBT, Record, and RedeTV. Simba produces audiovisual content for various media outlets. The extension was conditional upon the signing of a Concentration Control Agreement (ACC) to address competition concerns. The agreement requires Simba to maintain fair pricing and licensing rules for medium-sized operators and to gradually adapt its pricing model for small operators over a nine-month transition period. The_extendted operating period of 14 years was authorized by the Tribunal, as there was no evidence that Simba's activities since its creation had harmed competition.