TelevisaUnivision has reached an agreement to acquire US-language streaming service Pantaya from smaller rival Hemisphere Media Group, adding an entity to its recently announced global DTC offering VIX+, which is expected to launch in the second half of 2022.
Financial terms were not disclosed, but the deal is cash plus for TelevisaUnivision-owned radio stations in Puerto Rico, including WKAQ AM and KQ105 FM.
In February, United TelevisaUnivision announced Vix as its flagship broadcast brand for subscriptions and ad-supported free editions. AVOD ViX global service. He develops a high-profile partnership with Salma Hayek, Eugenio Derbez and Selena Gomez, among others.
“This is an exciting opportunity to advance our strategic growth plan as we continue to redefine the global broadcast landscape,” said Pierluigi Gazolo, President and Vice President of Transformation, TelevisaUnivision. “We look forward to accessing the Pantaya team, our current subscribers, and thousands of hours of content assets that perfectly complement TelevisaUnivision’s prolific long-term content engine, industry-leading library and extensive portfolio of intellectual property and sports. ”
Hemisphere CEO Alan Sokol chose the competition in the streaming space. “Given the highly competitive multilingual SVOD streaming environment, Pantaya’s service is best placed under an organization that can provide the resources and investments it needs to scale and grow. Additionally, Hemisphere’s acquisition of Univision Puerto Rico’s radio assets would be an ideal complement to WAPA, Puerto Rico’s leading broadcast network. We will continue to work hand in hand with the TelevisaUnivision Uforia programming team, who will continue to program the KQ105 FM station with its deep musical experience after the closure.”
A prime streaming destination for Spanish films, Pantaia offers an impressive selection of current and classic subtitles, blockbusters and critically acclaimed films from the US and Latin America. Pantaya features the first exclusive and original titles, including instant access to select movies available the same day they release in Latin America. Titles include: Senior 89 Y Bad,
The transaction is expected to be completed in the second half.
Source: Deadline
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