Microsoft is seeking to acquire Telediara Media Group, a multimedia company that has a large following in Latin America.
The deal is expected to close by the end of the year.
Microsoft’s acquisition is the largest of its kind in Latin American history, according to The Wall Street Journal.
The company said it expects to complete the transaction by the middle of 2018.
The acquisition will create a media company with a worldwide reach, said Brian Smith, Microsoft’s vice president of strategic investments and acquisitions.
Microsoft said the transaction is expected “to deliver substantial value to shareholders.”
Telediaria Media Group is known for producing movies, TV series and other video content in Latin Americans, the Middle East and Asia.
Telediarias business has grown from a few dozen employees to more than 1,000 employees, according the company’s website.
Microsoft acquired Telediarios digital content business in 2009 for $400 million.
It later purchased the company, which was acquired in 2011 by Disney, for $2 billion.
Microsoft also acquired an undisclosed portion of Telerias video content business.
The Washington Post’s Matt Levine contributed to this report.
Copyright © 2018 The Washington Report All rights reserved.