TelevisaUnivison said Wednesday that it has completed its purchase of streaming platform Pantaya. Terms of the deal were not disclosed.
TelevisaUnivision first revealed its intention to buy Pantaya, a streaming platform in the U.S. for Spanish-language movies and series, in May.
“The strategic acquisition of Pantaya marks an important milestone in our ongoing digital transformation, bringing together highly complementary streaming assets and building upon TelevisaUnivision’s global streaming service, ViX and ViX+,” said TelevisaUnivision president and chief transformation officer Pierluigi Gazzolo in a press release. “We are excited to welcome the Pantaya team, its content, and its subscribers to our platform, and look forward to working together to provide our audience with an even greater variety of content, as we accelerate our efforts to redefine the global streaming landscape and solidify ViX and ViX+’s position as the largest Spanish-language streamer in the world.”
Pantaya is a premium streaming service for world-class series and movies in Spanish offering an extensive U.S. and Latin American selection of classic and current blockbusters as well as critically acclaimed titles. Pantaya also features exclusives and original titles, including special access to select movies available on the same day or shortly after they debut theatrically in Latin America.
“We are grateful for the tremendous work performed by the Pantaya team, which has made it the leading subscription streaming service for U.S. Hispanics,” Hemisphere CEO Alan Sokol said in a press release. “The addition of Pantaya to ViX+ will now create the most comprehensive selection of Spanish-language content targeted to this expansive audience.”
ViX is the streaming service launched by TelevisaUnivision to represent and serve the Hispanic culture with culturally relevant content produced in Spanish. The combination of Pantaya’s premium library, subscribers, and team with ViX and ViX+ is expected to help the company to further connect with the nearly 600 million Spanish-speakers around the globe and to become a one-stop destination for Spanish-language entertainment in a wide variety of genres, including original series and movies, as well as sports and news content. ■
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Mike Farrell is senior content producer, finance for Multichannel News/B+C, covering finance, operations and M&A at cable operators and networks across the industry. He joined Multichannel News in September 1998 and has written about major deals and top players in the business ever since. He also writes the On The Money blog, offering deeper dives into a wide variety of topics including, retransmission consent, regional sports networks,and streaming video. In 2015 he won the Jesse H. Neal Award for Best Profile, an in-depth look at the Syfy Network’s Sharknado franchise and its impact on the industry.