Cablevision Holding

What Cablevision Holding does

Cablevisión Holding S.A. (CVH) is an Argentine publicly traded holding company, listed on BYMA under ticker CVH, that holds a 39.08% equity interest in Telecom Argentina S.A. Created in 2017 as a spin-off from Grupo Clarín S.A., CVH is structured as the first Argentine holding company dedicated to convergent telecommunications infrastructure and service delivery. Its operating subsidiary, Telecom Argentina, consolidates multiple legacy brands — Cablevisión, Fibertel, Personal, Flow, and the corporate Telecom brand — providing fixed broadband (25Mb to 1000Mb over cable modem and fiber optic), mobile services over 2G/3G/4G/5G networks with approximately 20 million subscribers, pay-TV and streaming entertainment through the Flow platform serving 3.5 million+ customers, and enterprise connectivity, cloud, datacenter, and IoT solutions.

The company's technology stack centers on a convergent fixed-mobile infrastructure integrating IP-based and QAM digital TV distribution with the Flow entertainment platform, which aggregates third-party streaming services (Netflix, Amazon Prime Video, Paramount+, Star+) via the Flow Deco set-top box and offers linear streaming, Start Over, Reverse EPG, Cloud DVR, and a 5,000+ title VOD library. Supporting infrastructure includes ~1,000+ Personal WiFi Zone hotspots, dedicated enterprise fiber links, and corporate datacenter facilities. A digital inclusion program provides free connectivity to over 14,000 schools, hospitals, and community institutions.

CVH's revenue model is primarily subscription-based recurring revenue across multi-play consumer bundles and enterprise contracts. Following the February 2025 acquisition of Telefónica Móvil Argentina (TMA) for USD 1,245 million, consolidated revenue reached ARS 8,328,814 million in FY2025 (+53.0% YoY), with FY2025 EBITDA of ARS 2,503,367 million (30.1% margin). Q1 2026 revenue grew 30.5% YoY to ARS 2,357,686 million with EBITDA margin expanding to 34.5%. The company employs 12,000+ personnel across Argentina, Uruguay, and Paraguay operations, with controlling shareholders comprising the Noble Herrera family, Héctor Magnetto, José Antonio Aranda, and Lucio Rafael Pagliaro.

Name

Cablevision Holding

Legal name

Cablevisión Holding S.A.

Website

https://cablevisionholding.com

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Cablevisión Holding is an Argentine publicly traded holding company holding 39.08% of Telecom Argentina, delivering convergent fixed broadband, mobile, pay-TV, and enterprise telecommunications services to residential and corporate customers across Argentina, Uruguay, and Paraguay.

Ownership category

akta.pro rank

Product category

Convergent Telecommunications Services

NAICS

Wired Telecommunications Carriers (517111)

SIC

Cable & Other Pay Television Services (4841)

akta.pro primary industry

Cable MSOs (Hybrid Fiber-Coax) (MPABAGAA)

Keywords

• Convergent telecommunications
• Pay television services
• Mobile network services
• Broadband internet access
• Enterprise telecom solutions

Headquarters

HQ city

Buenos Aires

HQ country

Argentina

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. Subscription-based Cable Television: Pay-TV subscription services through Flow brand, offering Classic TV, Flow Box, Flow Now, premium subscriptions, and on-demand content. Serves 3.5+ million cable TV customers in Argentina, Uruguay, and Paraguay.
2. Broadband Internet Services: High-speed internet access via cable modem and fiber optic through Cablevisión, Fibertel brands. Offers multiple speed tiers (25Mb to 1000Mb) for residential customers.
3. Mobile Communications: Mobile services under Personal brand including voice, high-speed mobile internet, and device sales. Approximately 20 million subscribers across Argentina. Services utilize 3G/4G/5G technologies. Also includes operations in Paraguay.
4. Enterprise/Corporate Services: Telecommunications solutions for businesses through Telecom brand including connectivity (dedicated fiber links), cloud services, video surveillance, cybersecurity, and IoT solutions for large, medium, small companies, professionals, and public entities.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

Cablevisión Holding is an Argentine holding company that develops telecommunications infrastructure and provides convergent telecommunications services (video, voice, and data) through its subsidiary Telecom Argentina S.A. Its portfolio spans mobile services (Personal brand with ~20 million subscribers), broadband internet (Cablevisión/Fibertel, 25Mb to 1000Mb speeds), pay-TV and entertainment (Flow brand with 3.5+ million customers), and enterprise ICT solutions (Telecom brand) across Argentina, Uruguay, and Paraguay.

Product overview

Cablevision Holding operates a multi-brand convergent telecommunications portfolio consisting of Personal (mobile and fixed connectivity with approximately 20 million subscribers), Flow (pay-TV and entertainment serving 3.5+ million customers), and Telecom (enterprise services). Personal provides internet from 25Mb to 1000Mb and mobile services; Flow offers pay-TV through multiple platforms including Flow Box (115+ channels), Flow Deco (integrated with Netflix, Amazon Prime Video, Paramount+, Star+), Flow Now (IP-based), and On Demand (5000+ titles); Telecom delivers enterprise solutions including connectivity, cloud, video, datacenter, and IoT services.

Differentiator

Problem solved

Functional benefit

Brands

• Personal: Mobile and fixed connectivity brand offering cable modem internet, fiber optics, mobile services with approximately 20 million subscribers in Argentina, and WiFi Zone hotspots across the country
• Flow
• Telecom
• Flow Box
• Flow Now
• Flow Deco

Products and services

• Personal (Mobile and Fixed Connectivity) Connectivity brand providing fixed and mobile telecommunications services in Argentina, including high-speed cable modem and fiber optic internet (25Mb to 1000Mb) and mobile voice, high-speed mobile internet, MMS, SMS, streaming, and social network access, serving approximately 20 million subscribers. Includes the Personal WiFi Zone with 1000+ free hotspots across Argentina.
• Flow (Pay-TV and Entertainment) Leading pay-TV and entertainment brand in Argentina with over 3.5 million cable TV customers across Argentina, Uruguay, and Paraguay. Offers multiple service tiers including TV Clásico, Flow Box (set-top box with 115+ channels), Flow Deco (integrated streaming platform with Netflix, Amazon Prime Video, Paramount+, Star+), Flow Now (IP-based TV without decoder), Flow On Demand with 5,000+ titles, Flow Music, and Gaming.
• Telecom (Enterprise/Corporate Telecommunications) Corporate telecommunications brand delivering comprehensive ICT solutions for large, medium, and small enterprises, as well as retailers, professionals, and public entities. Services include dedicated fiber optic connectivity, cloud solutions (videoconference, IP video surveillance, office tools), cybersecurity, and IoT solutions (fleet management, asset monitoring) delivered through fiber optic multi-service network with datacenters.
• Personal Internet Plans (Residential Broadband) High-speed residential internet service delivered via cable modem and fiber optic networks with multiple speed tiers ranging from 25Mb to 1000Mb. Available in the AMBA region and cities including La Plata, Córdoba, Rosario, Salta, Mar del Plata, Santa Fe, and other locations, sold under Cablevisión and Fibertel brands.
• Flow Box (Set-Top Box TV Service) Digital set-top box service offering more than 115 channels with digital quality audio, interactive on-screen programming guide, access to movie rentals and premium channels, parental controls, and simultaneous viewing on up to two devices plus the main decoder. Supports pause, fast-forward, rewind, and recorded content access (Cloud DVR).
• Flow Now (IP-Based Streaming TV) IP-based TV service that enables customers to access all Flow content via IP connection without requiring a set-top box, reaching locations where Telecom does not have fixed network infrastructure. Content is accessible on up to two devices simultaneously.
• Flow On Demand (Video On Demand) Interactive television service offering more than 5,000 titles including movies, music, series, children's content, and programs available on demand, accessible through Flow Box and Flow Now.
• WiFi Pass Service that allows Personal internet subscribers to activate free gigabytes of exclusive data for sharing mobile internet with other devices without consuming their original plan data.

Quantifiable outcome

• Revenue growth of 53.0% YoY to ARS 8,328,814 million in FY2025
• +4 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Four partnerships are on record, tiered core.

• NetflixcoreTechnology or IntegrationNetflix content integrated into Flow Deco platform, allowing Flow customers to access Netflix streaming directly through their Flow set-top box alongside traditional cable content.
• Amazon Prime VideocoreTechnology or IntegrationAmazon Prime Video available through Flow Deco platform, providing Flow customers seamless access to Prime Video content via the Flow entertainment ecosystem.
• Paramount+coreTechnology or IntegrationParamount+ streaming service integrated into Flow platform, offering Flow subscribers access to Paramount+ content through the Flow Deco device.
• Star+coreTechnology or IntegrationStar+ streaming platform integrated into Flow Deco, providing additional entertainment content options for Flow customers through the bundled entertainment experience.

Scale indicators12 records

Recent moves9 records

Expansion highlights6 records

Regional players

• VTR (Liberty Latin America, Chile): VTR is a leading Chilean cable TV and broadband operator (part of Liberty Latin America). Its pay-TV and broadband focus mirrors CVH's Flow and Cablevisión/Fibertel operations, with comparable ARPU dynamics, content integration strategies, and competitive positioning in its market.
• Millicom (Tigo): Millicom operates Tigo-branded mobile, cable, and broadband services across Latin America with comparable convergent offerings. Although not directly competing in Argentina, its convergent telecom model and regional focus make it a strong operational and strategic comparable for CVH's portfolio.
• Entel Peru: Entel Peru is a major converged telecom operator (mobile, fixed, internet, TV) in Peru with a similar product portfolio to CVH's Personal, Cablevisión/Fibertel, and Flow brands. As a publicly traded Latin American telecom, it provides a regional comparable for convergent service strategy and scale.
• Liberty Latin America: Liberty Latin America operates cable, broadband, and mobile services across the Caribbean and Latin America (including VTR in Chile, Liberty in Puerto Rico, C&W). Its convergent telecom and cable TV portfolio across multiple LatAm geographies provides a directly comparable business model to CVH's Flow/Personal/Telecom structure.

Direct peers

• Telefónica (Hispam/LatAm): Telefónica previously operated mobile services in Argentina through Telefónica Móvil Argentina (TMA), which CVH's subsidiary acquired for USD 1.245 billion in Feb 2025. As a former direct mobile competitor and current LatAm-focused telecom operator, it is a highly comparable peer with similar product offerings across the region.
• Telecom Argentina S.A. Telecom Argentina is CVH's core operating subsidiary (39.08% equity stake) and the entity through which CVH operates all of its telecom services. As a publicly traded Argentine telecom operator with mobile, broadband, and pay-TV, it serves as the primary direct functional equivalent and economic driver of CVH.
• América Móvil (Claro Argentina): América Móvil operates Claro in Argentina, directly competing with CVH's Personal mobile brand and cable/broadband services. As one of Latin America's largest telecom operators with mobile, fixed, and TV services, it is the most direct head-to-head competitor across CVH's product portfolio in Argentina.

Broad incumbents

• Grupo Televisa (Izzi Telecom): Izzi (subsidiary of Grupo Televisa) operates cable TV, broadband, and mobile services in Mexico with a comparable convergent offering. While focused on Mexico rather than Argentina, the operational profile of integrated cable/broadband/mobile parallels CVH's strategy closely.
• DIRECTV Latin America (Vrio): DIRECTV Latin America (now part of Vrio) is a major satellite pay-TV provider across Latin America, including Argentina. While using satellite rather than cable, it directly competes with Flow in pay-TV and represents a comparable content distribution and subscriber economics business model.

Others

• Grupo Clarín: Grupo Clarín is the media conglomerate from which CVH was spun off in 2017 and remains CVH's largest shareholder group. Although not a direct competitor, Grupo Clarín operates in adjacent media/content distribution spaces and provides institutional context for CVH's strategy and ownership structure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cablevision Holding