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TelevisaUnivision has announced an agreement to acquire Pantaya, a U.S. streaming platform for Spanish-language films and series, from Hemisphere Media Group (NASDAQ: HMTV). The deal includes cash and certain Puerto Rican radio assets. This acquisition aims to enhance TelevisaUnivision's digital transformation and bolster its global streaming service, ViX+, set to launch in late 2022. Key content like ‘Señorita 89’ and extensive movie offerings from Pantaya are expected to further strengthen the company’s portfolio. The transaction is anticipated to finalize in the latter half of 2022, pending regulatory approvals.
Positive
Acquisition of Pantaya strengthens TelevisaUnivision's global streaming service, ViX+.
Access to a large library of Spanish-language content, enhancing subscriber appeal.
Strategic growth opportunity positioned to compete effectively in the multi-language SVOD market.
Negative
The transaction is subject to regulatory approvals, introducing uncertainty in timing.
Potential integration challenges with Pantaya's existing operations into TelevisaUnivision.
Transaction brings together highly complementary streaming assets, building upon TelevisaUnivision’s investments in and launch of a global streaming service amid the company’s ongoing digital transformation
MIAMI--(BUSINESS WIRE)--
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.
The addition of Pantaya’s content, subscribers and world class team further accelerates the transformation of TelevisaUnivision, effectively bolstering its global streaming offering ViX+, which is expected to launch in the second half of 2022.
“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,” said TelevisaUnivision President and Chief Transformation Officer Pierluigi Gazzolo. “We look forward to welcoming the Pantaya team, the existing subscribers, and having access to the thousands of hours of content assets which perfectly complement TelevisaUnivision’s prolific long-form content engine, industry-leading library, and extensive portfolio of IP and sports rights. 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 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. In addition, Hemisphere’s acquisition of certain Univision Puerto Rican radio assets will be an ideal complement to WAPA, Puerto Rico’s leading broadcast network. Post-closing, we will continue to work closely with the TelevisaUnivision Uforia programming team who, with its deep music expertise, will continue to program the KQ105 FM station.”
The transaction is expected to close in the second half of 2022 and is subject to customary closing conditions, including receipt of regulatory approvals in the United States.
Pantaya, a premium streaming destination for world-class movies in Spanish offers a compelling selection of current and classic, blockbusters and critically acclaimed titles from the U.S. and Latin America. Pantaya features first-run exclusive and original titles, including instant access to select movies available on the same day they debut theatrically in Latin America.
About TelevisaUnivision
As the leading Spanish-language media and content company in the world, TelevisaUnivision features the largest library of owned content and industry-leading production capabilities that power its streaming, digital and linear television offerings, as well as its radio platforms. The Company’s media portfolio includes the top-rated broadcast networks Univision and UniMás in the U.S. and Las Estrellas and Canal 5 in Mexico. TelevisaUnivision is home to 36 Spanish-language cable networks, including Galavisión and TUDN, the No. 1 Spanish-language sports network in the U.S. and Mexico. With the most compelling portfolio of Spanish-language sports rights in the world, TelevisaUnivision has solidified its position as the Home of Soccer. TelevisaUnivision also owns and manages 59 television stations across the U.S. and four broadcast channels in Mexico affiliated with 222 television stations, Videocine studio, and Uforia, the Home of Latin Music, which encompasses 57 owned or operated U.S. radio stations, a live event series and a robust digital audio footprint. TelevisaUnivision is home to the global streaming services ViX and Blim TV, which altogether host over 50,000 hours of high-quality, original Spanish-language programming from distinguished producers and top talent. The company’s prominent digital assets include Univision.com, Univision NOW, and several top-rated digital apps. For more information, visit televisaunivision.com.
