Latin Television to Exit Hispanic Broadcasting Market

CORAL SPRINGS, July 31:
The youth-focused, bilingual Hispanic network Latin Television (LTV) has said
it is going to exit the broadcasting business and is seeking a buyer for all of
its assets, including its equipment and content.

In a statement, the
company said it would be redirecting its focus to the sports publication
market. The reasons given include the upcoming financial requirements for
broadcast networks to convert from analog to digital, as well as the capital
necessary to produce high-definition programming. LTV noted that “the interests
of the company's shareholders will be better served by changing its business
model and by focusing on the growing market for sports related publications.”

"The company has not
been able to raise enough capital under our current corporate structure to
effectively grow Latin Television to its maximum potential," said Randall
Appel, LTV’s president. "However, we still strongly believe in Latin
Television. The Hispanic market continues to be one of the fastest growing
segments of the economy, and Latin Television would be ideally suited to
capitalize on the Latin market once it acquires the necessary
capitalization."

The company is offloading
cameras, broadcasting equipment, broadcasting rights and intellectual property
rights. As soon as it has solidified its new sports business, it will change
its name from Latin Television.

A press release about the
launch of Latin Television last year following the merger of New LTV
Acquisition and Mega Mania Interactive said the broadcast outlet was available
in 12.5 million homes via various cable platforms.