Televisa Univision reported Monday that it has reached an agreement with a subsidiary of Hemisphere Media Group Inc. to acquire Pantaya, a US-based streaming platform for Spanish-language films and series, for cash and radio assets.
The amount of the deal was not disclosed, but the company said in a statement that it will trade Puerto Rican radio stations such as WKAQ AM and KQ105 FM.
Televisa Univision is a new project of the largest broadcaster in Mexico, Televisa, and the US company Univision.
The company said the transaction is expected to close in the second half of 2022 and is subject to usual closing conditions, including regulatory approvals in the United States.
“The acquisition of Pantaya, which includes popular content titles such as ‘Señorita 89’ and ‘A La Mala,’ is an exciting opportunity to build on our strategic growth plan,” said Pierluigi, President and Chief Transformation Officer at Televisa Univision. , in the statement.
Reuters reported in January that Grupo Televisa and Univision are preparing to launch what will be the largest Spanish language broadcasting platform in the first half of 2022 after concluding a joint venture deal.
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