Grupo Cisneros
Encyclopedia
Grupo Cisneros is a Venezuela
n conglomerate
owned by Gustavo Cisneros
. Major assets include the Venezuelan television network, Venevisión
, production and international distribution company Venevisión International
, and the Venezuelan baseball team Leones del Caracas
. Other assets include Venezuelan radio network FM Center
and international channels Venevisión Continental
and Venevisión Plus
. It has the rights to the Miss Venezuela
beauty contest and owns brewery company Cerveceria Regional.
), and in 1940 exclusive rights to bottle and market Pepsi
in Venezuela.
In 1960, the President of Venezuela, Rómulo Betancourt
, proposed to Diego Cisneros that he purchase Venezuelan television station Televisa
, which had already declared bankruptcy
. Cisneros accepted Betancourt's offer, and after purchasing Televisa, he re-branded it as Venevisión on 27 February 1961.
Gustavo Cisneros
took over as Chairman and Chief Executive Officer of the Cisneros Group of Companies in 1970.
In 1981 the group obtained the exclusive rights for the Miss Venezuela
beauty contest. In the 1980s the group also acquired exclusive franchise or distribution rights in Venezuela for Burger King
, Pizza Hut
, Digital Equipment Corporation
, and Apple Inc..
The group took over Leones del Caracas
in 2001.
Venezuela
Venezuela , officially called the Bolivarian Republic of Venezuela , is a tropical country on the northern coast of South America. It borders Colombia to the west, Guyana to the east, and Brazil to the south...
n conglomerate
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
owned by Gustavo Cisneros
Gustavo Cisneros
Gustavo A. Cisneros Rendiles is a Venezuelan media mogul of Cuban descent. He is among the world's richest men according to Forbes magazine, which estimated his fortune at $4.2 billion in 2010 The New York Times calls Cisneros, "one of Latin America’s most powerful figures" and says he and his...
. Major assets include the Venezuelan television network, Venevisión
Venevisión
Venevisión is one of Venezuela's largest television networks and a Venezuelan cable and terrestrial television network, which is owned and presided over by Gustavo Cisneros...
, production and international distribution company Venevisión International
Venevisión International
Venevisíon International is a global television network which broadcasts Spanish content in the United States and in other locations around the globe....
, and the Venezuelan baseball team Leones del Caracas
Leones del Caracas
The Leones del Caracas is a Venezuelan baseball team that plays in the Venezuelan Professional Baseball League. Since its inception, the team has played in the Estadio Universitario in Caracas...
. Other assets include Venezuelan radio network FM Center
FM Center
FM Center is a radio network in Venezuela based on Caracas. It was founded by Rodolfo Rodríguez García and is the largest radio network of that country, owning 64 FM and AM radio stations nationwide and one internet-based...
and international channels Venevisión Continental
Venevisión Continental
Venevisión Continental is a Venezuelan television network owned by Venevisión and is seen through Latin America on DirecTV channel 774 until September 15 2006. It was inaugurated on August 28, 2000. Old shows from Venevisión are seen on it as well as newscasts from Caracol TV, a Colombian...
and Venevisión Plus
Venevision Plus
'Venevision Plus is a cable television channel within the Grupo Cisneros, controlled by tycoon Gustavo Cisneros, which holds 100% stake channel. Venevision Plus is based in Miami and from December 1, 2007, its signal is transmitted in Venezuela, while in 2008 came to Chile, Mexico and Argentina...
. It has the rights to the Miss Venezuela
Miss Venezuela
The Miss Venezuela contest is the national beauty pageant of Venezuela and has been held since 1952. It is responsible for selecting the country's representatives to the Miss Universe, Miss World, Miss Earth and Miss International pageants .Under the direction of Osmel Sousa, Venezuela has...
beauty contest and owns brewery company Cerveceria Regional.
History
The company was established as a conglomerate in 1953, but its roots go back to 1929, when Diego Cisneros established a transport business in Venezuela. The company D. Cisneros & Cia. acquired several franchise rights in 1939 (including REO TrucksWhite Motor Company
White Motor Company was an American automobile and truck manufacturer from 1900 until 1980. The company also produced bicycles, roller skates, automatic lathes, and sewing machines. Before World War II, the company was based in Cleveland, Ohio.-History:...
), and in 1940 exclusive rights to bottle and market Pepsi
Pepsi
Pepsi is a carbonated soft drink that is produced and manufactured by PepsiCo...
in Venezuela.
In 1960, the President of Venezuela, Rómulo Betancourt
Rómulo Betancourt
Rómulo Ernesto Betancourt Bello , known as "The Father of Venezuelan Democracy", was President of Venezuela from 1945 to 1948 and again from 1959 to 1964, as well as leader of Accion Democratica, Venezuela's dominant political party in the 20th century...
, proposed to Diego Cisneros that he purchase Venezuelan television station Televisa
Televisa (Venezuela)
Televisa , officially known as the Televisión Independiente, S.A. became the first privately-owned television station to begin operations in Venezuela. It was the second television station to begin operations after the state-owned Televisora Nacional...
, which had already declared bankruptcy
Bankruptcy
Bankruptcy is a legal status of an insolvent person or an organisation, that is, one that cannot repay the debts owed to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor....
. Cisneros accepted Betancourt's offer, and after purchasing Televisa, he re-branded it as Venevisión on 27 February 1961.
Gustavo Cisneros
Gustavo Cisneros
Gustavo A. Cisneros Rendiles is a Venezuelan media mogul of Cuban descent. He is among the world's richest men according to Forbes magazine, which estimated his fortune at $4.2 billion in 2010 The New York Times calls Cisneros, "one of Latin America’s most powerful figures" and says he and his...
took over as Chairman and Chief Executive Officer of the Cisneros Group of Companies in 1970.
In 1981 the group obtained the exclusive rights for the Miss Venezuela
Miss Venezuela
The Miss Venezuela contest is the national beauty pageant of Venezuela and has been held since 1952. It is responsible for selecting the country's representatives to the Miss Universe, Miss World, Miss Earth and Miss International pageants .Under the direction of Osmel Sousa, Venezuela has...
beauty contest. In the 1980s the group also acquired exclusive franchise or distribution rights in Venezuela for Burger King
Burger King
Burger King, often abbreviated as BK, is a global chain of hamburger fast food restaurants headquartered in unincorporated Miami-Dade County, Florida, United States. The company began in 1953 as Insta-Burger King, a Jacksonville, Florida-based restaurant chain...
, Pizza Hut
Pizza Hut
Pizza Hut is an American restaurant chain and international franchise that offers different styles of pizza along with side dishes including pasta, buffalo wings, breadsticks, and garlic bread....
, Digital Equipment Corporation
Digital Equipment Corporation
Digital Equipment Corporation was a major American company in the computer industry and a leading vendor of computer systems, software and peripherals from the 1960s to the 1990s...
, and Apple Inc..
The group took over Leones del Caracas
Leones del Caracas
The Leones del Caracas is a Venezuelan baseball team that plays in the Venezuelan Professional Baseball League. Since its inception, the team has played in the Estadio Universitario in Caracas...
in 2001.