Telecinco Takes 28.3-Percent Stake in U.S. Hispanic Broadcaster

MADRID, January 18: Spain’s Telecinco has acquired a 28.3-percent stake in the recently launched U.S. Hispanic outlet CaribeVisión for $32 million.

CaribeVisión’s a Spanish-language network with stations in New York, Miami and Puerto Rico. The Mediaset-owned Telecinco says it will contribute content, advertising and management know-how to the new channel.

The acquisition, advised by Lazard, will be completed through Pegaso TV, which owns 83 percent of CaribeVisión’s shares, with the remaining 17 percent held by Barba TV, chaired by Barba, CaribeVisión’s CEO. With the new ownership structure, the Burillo-Azcárraga family holds 49.6 percent of Pegaso TV, while Telecinco owns 34.2 percent and the investment firm Quantek controls 16.2 percent.

—By Mansha Daswani