TelevisaUnivision has inked a deal to acquire U.S. Spanish-language streaming service Pantaya from smaller rival Hemisphere Media Group, adding the asset to its recently announced global DTC offering VIX+ expected to launch in the second half of 2022.
Financial terms weren’t released but the deal is for cash plus TelevisaUnivision-owned radio stations in Puerto Rico, including WKAQ AM and KQ105 FM.
In Feb., the merged TelevisaUnivision announced Vix as its flagship streaming brand for subscription and free, ad-supported versions. Global AVOD service ViX. It’s been rolling out high-profile partnerships with Salma Hayek, Eugenio Derbez and Selena Gomez and others.
The move “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.”
Hemisphere CEO Alan Sokol cited competition in the streaming space. “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.”
Pantaya, a premium streaming destination for Spanish-language movies 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. Titles include Señorita 89 and A La Mala,
The transaction is expected to close in the second half.