Panama City — [Month] 2026.
Alfaro, Ferrer & Ramírez (AFRA) acted as Panama counsel to FOX Latin America (“FOX”) in its acquisition of the programming and local production operations of the Tigo Sports Channel, a regional transaction spanning Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica and Panama. The transaction closed in April 2026.
The acquisition marks a significant expansion of FOX’s presence in Central America. It includes a robust portfolio of local sports content and broadcast rights — among them the full Panamanian Football League — together with a regional production network and on-air talent. Following the closing, FOX announced the launch of the FOX Channel across Central America, combining local football content with its international rights portfolio, which features properties such as the Premier League, the UEFA Europa League, the Bundesliga and Liga MX.
Greenberg Traurig (Miami) served as lead counsel to FOX, coordinating local counsel across the region, with a team comprising Yosbel Ibarra (Partner), Alex Capelli (Associate) and Joshua Yagur (Associate). AFRA advised on all Panamanian aspects of the transaction, fielding a multidisciplinary team that covered the corporate, competition, regulatory, telecommunications, labor and intellectual property dimensions of the deal.
The AFRA team comprised:
Corporate / M&A / Commercial: Alejandro Alemán, Alfredo Ramírez Pabón, Roberto Arosemena and Santiago Mesa
Antitrust: Ricardo Moreno and Nicole López
Regulatory and Telecommunications: Annette Bárcenas and Eduardo de la Espriella
Labor: Nelson Sales
Intellectual Property / Consumer Protection: Marycarmen González
The transaction underscores AFRA’s capabilities in complex, cross-border M&A involving the media, sports and telecommunications sectors, and its ability to deploy integrated teams across practice areas to support international clients in high-profile regional transactions.
FOX’s official announcement of the transaction is available here.