TelevisaUnivision to Buy Streaming Service Pantaya to Bulk Up ViX+

variety.com:

Todd Spangler NY Digital EditorTelevisaUnivision reached a deal with Hemisphere Media Group to acquire Pantaya, a U.S. streaming platform for Spanish-language movies and TV series, picking up the rival streamer to bolster the ViX service.The companies didn’t disclose a value for the Pantaya deal.

Last year, Hemisphere Media bought out the remaining 75% stake of Pantaya it didn’t own from Lionsgate for about $124 million in cash.The pact will add Pantaya’s content, subscribers and management team to TelevisaUnivision’s own subscription-streaming platform, ViX+, which is expected to launch in the second half of 2022.

In April, TelevisaUnivision launched global ad-supported VOD service ViX.The deal for Pantaya comprises cash and some of TelevisaUnivision’s Puerto Rican radio stations including WKAQ-AM and KQ105-FM, which will be owned by Hemisphere (which already owns Puerto Rico’s WAPA broadcast network).

The acquisition is expected to close in the second half of 2022, subject to customary closing conditions including U.S. regulatory approvals. “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,” TelevisaUnivision president and chief transformation officer Pierluigi Gazzolo said in announcing the pact.Hemisphere CEO Alan Sokol commented: “Pantaya will flourish under TelevisaUnivision’s ownership.