Last month, Mr. Murdoch's News Corp., the world's largest media conglomerate, and Brazil's Globo Organization closed a $500 million deal that by March is expected to distribute more than 100 TV channels via satellite into the homes of Brazilian subscribers.
Mr. Murdoch's empire spread to Latin America in 1993, when he launched El Canal Fox, a cable channel now in more than 2.5 million homes. Latin America is one of the few areas of the world where Mr. Murdoch didn't have a strong media presence.
The media magnate met Sept. 18 in Sao Paulo with Roberto Marinho, exec VP of the Globo Network. Afterward, Messrs. Murdoch and Marinho announced the deal at the IV Latin American Advertising Congress.
Mr. Murdoch said he intends to "make the new network one of the foremost communication groups in the world."
The two media powers plan to establish a Latin American subscriber base of 3 million within two years and offer more than 150 channels to local producers and independent distributors.
Mr. Marinho said he expects to reach a total of 650,000 subscribers by yearend.