ARTEAR sells participation in Ideas del Sur S.A.

GRUPO CLARIN S.A.

Subsidiary ARTEAR sells participation in Ideas del Sur S.A.

On 14 November 2013, Grupo Clarín S.A. (the "Company") informed the Argentine Securities Commission and the Buenos Aires Stock Exchange that on that date, Arte Radiotelevisivo Argentino S.A. ("ARTEAR"), a subsidiary of the Company, sent a sale offer to South Media Investments S.A. ("SMI"), for all of ARTEAR's participation in IDEAS DEL SUR S.A., represented by 300,000 common, nominative, non-endorsable shares, with a par value of Ps.1 and entitled to one vote per share, representative of 30% of the capital stock of that company (the "Shares"), together with all the political and economic rights inherent to the Shares, with no limitations of any nature, including all rights that ARTEAR may have over irrevocable capital contributions on account of future capital subscriptions that ARTEAR may have made; but expressly excluding ARTEAR's right to dividends in the amount of Ps. 600,000 approved in its favor at the Shareholders' Meeting No. 33 held on 14 March 2012, which are not a part of the offer and remain the property of ARTEAR (the "Offer").

The sale price for the Shares was set at US$ 12,000,000 (twelve million United States Dollars) (the "Price"), and the deadline to accept the Offer was set at two (2) business days. SMI will be deemed to have accepted the Offer tacitly, and therefore made its acceptance firm, binding and irrevocable, if SMI provides evidence before the acceptance deadline, of having transferred the total amount of the Price, in United States Dollars, in readily available funds, to the bank account of ARTEAR indicated in the Offer, by delivering to ARTEAR a copy of the corresponding SWIFT message.

Additionally, the parties set 20 November 2013 as the deadline for the total amount of the Price to be credited to the bank account of ARTEAR in United States Dollars, in readily available funds. Once the Price has been so credited, the Shares will be transferred to SMI.

On 14 November 2013, SMI accepted the Offer in the manner described above. The transfer of the Shares to SMI is still pending.

The economic result of the transaction once the transfer of the Shares has occurred, shall be a profit for ARTEAR of Ps. 72 million.

Enquiries:

In Buenos Aires:

Alfredo Marín/Agustín Medina Manson

Grupo Clarín

Tel: +5411 4309 7215

Email: [email protected] 

In London:

Alex Money/Clare Gallagher

Jasford IR

Tel: +44 20 3289 5300

Email: [email protected] 

In New York:

Melanie Carpenter

I-advize Corporate Communications

Tel: +1 212 406 3692

Email: [email protected]