TelevisaUnivision Announces an Agreement to Acquire Streaming Service Pantaya from Hemisphere Media Group
TelevisaUnivision, Inc. (the Company or TelevisaUnivision), the world's leading Spanish-language media and content company, today announced that it has entered into an agreement with HMTV DTC, LLC, an indirect wholly owned subsidiary of Hemisphere Media Group, Inc. (NASDAQ: HMTV) (Hemisphere) to acquire Pantaya, LLC (Pantaya), a streaming platform in the U.S. for Spanish-language movies and series in exchange for cash plus certain Puerto Rican radio assets including WKAQ AM and KQ105 FM currently owned by TelevisaUnivision.
- TelevisaUnivision, Inc. (the Company or TelevisaUnivision), the world's leading Spanish-language media and content company, today announced that it has entered into an agreement with HMTV DTC, LLC, an indirect wholly owned subsidiary of Hemisphere Media Group, Inc. (NASDAQ: HMTV) (Hemisphere) to acquire Pantaya, LLC (Pantaya), a streaming platform in the U.S. for Spanish-language movies and series in exchange for cash plus certain Puerto Rican radio assets including WKAQ AM and KQ105 FM currently owned by TelevisaUnivision.
- In April we launched our global AVOD service ViX, and we will launch our global SVOD service ViX+ in the second half of this year, which will be further accelerated by this strategic acquisition.
- Commenting on the transaction with TelevisaUnivision, Alan Sokol, Chief Executive Officer of Hemisphere stated, Pantaya will flourish under TelevisaUnivisions ownership.
- Given the highly competitive multi-language SVOD streaming environment, Pantayas service is best positioned under an organization that can provide the resources and investment it needs to scale and grow.