Media executive wants to invest in Brazil
Date added: 26th January, 2011 at 14:44
(view all articles from January, 2011)
Categories: Economy
The former chief executive of film production company Metro-Goldwyn-Mayer (MGM) Harry Sloan has said he wishes to invest in Brazil.
Described by the Financial Times as a "seasoned dealmaker", the speculator established European media group SBS Broadcasting in 1990, spending $5 million (£3.15 million) on the venture to make $2.6 billion from it 15 years later.
He worked at MGM between 2005 and 2009 and is now looking for new opportunities for investment.
One of the projects he would like to spend his money on is the purchase of two television networks.
Mr Sloan told the news provider he felt he could make achievement in international markets, including China, Turkey and Brazil.
"A lot of the success I've had was transferring what I learnt in the US to other markets. Exploiting digital distribution is a great example and will translate internationally," he explained.
The executive's investment in Brazil would be part of an increasing flow of foreign money entering the country, as the Wall Street Journal reported central bank figures showing a rise in new foreigner exchange inflows into the nation at the beginning of the month.
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