FIC Exits MundoFox Partnership

LOS ANGELES: FOX International Channels (FIC) has sold its interest in U.S. Spanish-language broadcast network MundoFox to its joint-venture partner RCN Television Group.

The network launched in fall 2012, dedicated to serving the U.S. Hispanic market. With FIC selling off its 50 percent stake, RCN now becomes full owner of MundoFox.

"We're proud of having started MundoFox with RCN and are confident that they will realize all of the potential of the network," said Hernan Lopez, the president and CEO of FIC. "Our company continues to be committed to the U.S. Latino marketplace through its Spanish-language channels, FOX Deportes, Nat Geo Mundo and FOX Life. We want to thank the entire team at RCN, led by Gabriel Reyes, the Ardila Lulle family, management led by Ibra Morales, as well as our valued staff, talent, advertising and station partners for their immense efforts, and wish them much success."

"RCN is excited to be carrying on the MundoFox network that we started jointly with our partner FIC," added Ibra Morales, who will continue to lead the management team at the broadcast network. "We look forward to serving the remarkably vibrant and dynamic U.S. Hispanic community with our successful programs and are proud to dedicate our efforts to the continuous growth and success of the network."