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Sarangel
05-17-2001, 02:26 PM
Caracol Television SA, Colombia's most-watched television channel, and Buena Vista International, a movie producer owned by the Walt Disney Co., joined forces to produce four soap operas in the next three years, said the financial daily Portafolio.

The accord, Caracol's second after it joined U.S.-based Telemundo Network Group Llc. last March in a 10-year venture, means the shows will be broadcast in the U.S., said the paper, citing Ricardo Obregon, Caracol's president. One of the soap operas, "Love in The Fast Lane,'' is currently being aired in Colombia, said Portafolio.

Buena Vista will distribute the soap operas overseas, while the companies will share costs and benefits as co-producers, said the paper, citing Alarcon. He said Caracol has no immediate plans to sign other ventures, the paper reported.

Caracol, controlled by the Bavaria beer and media group, is seeking to boost its ratings as Colombia's slow economic recovery hampers demand for advertising as well as to boost dollar revenue to serve its foreign debt of about $133 million.
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Source: AOL News