TelevisaUnivision reached a deal with Hemisphere Media Group to acquire Pantaya, the U.S. streaming platform for Spanish-language movies and TV shows series.
The pact will add Pantaya’s content, subscribers and management team to TelevisaUnivision’s own subscription-streaming platform, ViX+, which is expected to launch in the second half of 2022. In April, TelevisaUnivision launched global AVOD service ViX.
To deal for Pantaya comprises cash and some of TelevisaUnivision’s Puerto Rican radio stations including WKAQ-AM and KQ105-FM, which will be owned by Hemisphere (which already owns Puerto Rico’s WAPA broadcast network).
The deal is expected to close in the second half of 2022, subject to customary closing conditions including U.S. regulatory approvals. The companies didn’t disclose a value for the Pantaya deal.
Last year, Hemisphere Media bought out the remaining 75% stake of Pantaya it didn’t own from Lionsgate for about $124 million in cash.
“The acquisition of Pantaya, which includes renowned content titles such as ‘Señorita 89’ and ‘A La Mala’, is an exciting opportunity to build upon our strategic growth plan as we continue to redefine the global streaming landscape,” TelevisaUnivision president and chief transformation officer Pierluigi Gazzolo said in announcing the pact.
Hemisphere CEO Alan Sokol commented: “Pantaya will flourish under TelevisaUnivision’s ownership. Given the highly competitive multi-language SVOD streaming environment, Pantaya’s service is best positioned under an organization that can provide the resources and investment it needs to scale and grow.”
Pantaya offers a selection of current and library titles from the U.S. and Latin America, including some first-run exclusive films available on the same day they debut theatrically in Latin America.
Source: Read Full Article
