nuvoTV Receives $40 Million Injection

LOS ANGELES: The English-language bi-cultural U.S. network nuvoTV has secured $40 million in financing to expand its original programming slate.

The network, aimed at American Latinos, was created more than eight years ago. It currently reaches some 30 million homes. The funding comes from current investors such as Columbia Capital and Rho Capital Partners, as well as new financial partners Veronis Suhler Stevenson and Tennenbaum Capital Partners. The funds will be used to expand the development of new original entertainment programming across a range of genres.

"From our inception in 2004, nuvoTV has been dedicated to providing top-quality English-language entertainment targeting bi-cultural Latinos in the U.S. with contemporary, non-stereotypical formats and stories," said Michael Schwimmer, nuvoTV’s CEO. "Our most recent financing is evidence of our success to date and our commitment to deliver unique and compelling original programming for our viewers."