What are the most significant cases or transactions that your legal team has recently been involved in?

My legal team and I have led the process of selling the majority of shares of the companies Telecolombia, Telemexico and their parent company Foxtelco, from the Walt Disney Company to ViacomCBS Networks International; including the due diligence and corresponding transaction agreements.

Since the acquisition, TeleColombia & TeleMexico have bolstered ViacomCBS’s Spanish-language content production capabilities and expanded the company’s international studios — VIS — to capitalise on significant content demand on its global streaming platforms, such as Paramount+ and Pluto TV, and its linear networks around the world.

Currently, Paramount operates TeleColombia & TeleMexico as a collaborative partnership with the founding family. Therefore, the legal team is involved in aligning legal, corporate, insurance and compliance issues to comply with Paramount policies.

Additionally, we have been at the forefront of the application for incentives – CINA — that promote Colombia as a destination and setting to produce audiovisual work. The cash rebate grants 40% cash rebate of the expenses in audiovisual services and 20% of the expenses of logistics services in the country. CINA grants a 35% transferable tax credit of the expenses in audiovisual and logistics services in the country. Seven audiovisual programmes produced by Telecolombia for foreign clients have been beneficiaries of the incentives.

How do you feel the pandemic has changed the world of work for in-house counsel and the function of the general counsel?

The in-house counsel role has become more strategic and innovative. Today in-house lawyers pay particular attention to drafting termination, cancellation, suspension and force majeure clauses to terminate relationships in a cost-effective manner when needed.

The general counsel must work closely with guilds and policymakers to contribute ideas for possible changes in legislation affecting specific industries due to pandemic or other unforeseen situations. This includes making comments or contributions to draft legislation so that the needs of the industry are considered before laws are issued. For example, during the pandemic, we were able to comment on laws limiting production in the city of Bogota.

What can law firms do to improve their service to the legal department?

Law firms could proactively seek out the client and first advise them about changes to contracts and regulations to comply with new legislation. In this way, law firms anticipate client inquiries. Additionally, law firms could better understand the core business of clients and their needs by scheduling regular meetings to discuss legal matters that can be improved.