Madrid-listed PRISA, a global Spanish-language media company, announces an investment in and alliance with V-me Media, Inc., the U.S. Hispanic content/distribution company and owner of national Spanish-language network V-me.
V-me, owned by V-me Media, Inc., a media production and distribution company, is one of America’s largest Spanish networks, which entertains and informs Latino families in Spanish with a programming alternative of primetime drama, music, sports, current affairs and Latin cinema, along with world class kids, food, lifestyle and nature.
PRISA will make acquire 12% of V-me Media, Inc., increasing to a majority position in the next 12 months.
According to Juan Luis Cebrian, CEO of PRISA, this investment represents an aggressive U.S. step forward in PRISA’s consumer-centric global strategy of delivering relevant content through multiplatform distribution to the entire Portuguese and Spanish speaking world.
Commenting on the deal, Carmen M. DiRienzo, president and CEO of V-me, said: “PRISA is a perfect partner for V-me.
“PRISA’s world-class content and production resources combined with V-me’s creative development and distribution present powerful opportunities to develop new programs and channels for domestic and international markets, and to expand and develop brands across PRISA’s radio, publishing and broadcast assets”.
The original shareholders of V-me – Syncom Venture Partners, The Baeza Group, led by V-me’s Founding Chairman Mario L. Baeza, and Educational Broadcasting Corporation, a company of WNET.ORG, the PBS-affiliated public media provider in New York City – will continue to be represented on the board of V-me Media, Inc.
PRISA’s investment will result in additional board seats, eventually representing majority control for PRISA.