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.
TelevisaUnivision would pay cash as well as certain Puerto Rico-based radio assets, notably WKAQ AM and KQ105 FM, according to the deal’s terms.
Pantaya has a wide collection of current and classic movies from the United States and Latin America, including blockbusters and critically renowned films. Pantaya offers first-run exclusive and original titles, as well as rapid access to select films that are released theatrically throughout Latin America on the same day.
“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 Pierluigi Gazzolo, TelevisaUnivision president and chief transformation officer, in a statement.
“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,” Gazzolo continued.
“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,” said Hemisphere CEO Alan Sokol. “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.”
International law firm Hogan Lovells advised TelevisaUnivision on this deal.