TelevisaUnivision plans to acquire Hemisphere Media Group’s Spanish-language streaming platform Pantaya to bolster its global streaming product ViX+, which is set to launch in the second half of 2022. (LostRemote)
The amount of the deal was undisclosed, but the firm said in a statement it will trade Puerto Rican radio stations such as WKAQ AM and KQ105 FM. TelevisaUnivision is a new venture by Mexico’s biggest broadcaster—Televisa—and U.S. broadcaster Univision. (Reuters)
Pantaya, the first full Spanish-language U.S. streamer, launched in 2017 as a joint venture between Lionsgate and Hemisphere Media Group, at first with limited content options but as it built a subscriber base, it started producing its own popular originals. (Forbes)
Lionsgate would go on to sell its majority stake to Hemisphere last year for $124 million, opting to focus its streaming efforts on Starz. However, with the streaming space getting increasingly crowded, Hemisphere says that it believes Pantaya would benefit from the scale TelevisaUnivision is looking to get with ViX+. (THR)