Expatica news

Telecinco takes stake in new US TV channel

18 January 2008

MADRID – Spanish commercial TV company Telecinco said Thursday it had agreed to acquire a 28.3-percent stake in recently created US channel CaribeVisión, whose content is aimed at Spanish-speaking viewers in New York, Miami and Puerto Rico.

Telecinco will pay USD 32 million, which will be acquired by entering the Pegaso TV consortium, which in turn owns 83 percent of Caribe Visión.

Other members of the Pegaso consortium include the Burillo-Azcárraga family and financial partner Quantek. The chairman of the consortium is Alejandro Burillo-Azcárraga, a former chief executive of Mexican television company Televisa.

[Copyright EL PAÍS / Adrián Soto 2008]

Subject: Spanish news