CaribeVisión Completes Acquisition of Broadcast Stations

NEW YORK/MIAMI, December 5: CaribeVisión Holdings has completed its purchase of the broadcast stations in New York, Miami and Puerto Rico that make up its Hispanic-targeted CaribeVisión network, for $60 million.

The stations involved in these transactions include: WPXO in New York (from Paxson Communications); WFUN in Miami (Localone Texas); and WJPX (San Juan), WIRS (Jayuya), WKPV (Ponce), WJWN-TV (Aguada) in Puerto Rico, reaching more than 4 million Hispanic households.

CaribeVisión is now preparing for the second phase of its network launch plans. CaribeVisión began airing in New York and Miami in September and broadcasting in Puerto Rico in November.

CaribeVisión’s programming line-up initially consists of English-subtitled telenovelas, talk shows, comedy, drama, sports, movies, news, children’s shows and special events. Some 70 percent of the network’s programming will be acquired and 30 percent will be originally produced and owned by CaribeVisión. The network has already concluded several programming agreements with media companies around the world, such as Antena 3, TV Azteca, Telefe, Telecino, Sportsbrand Media Group, Frecuencia Latina, Dori Media Group and Globo.

 Carlos Barba, the president of CaribeVisión Holdings, commented: “Now that CaribeVisión has completed these transactions we will focus our collective attention on further developing and growing our network and seeking new avenues to air new, exciting programming and attracting more loyal viewers.”

–By Irene Lew