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Spanish language media giant Univision Communications has acquired VIX, the indie ad-supported streaming service offering video-on-demand content to Hispanic audiences in the U.S. and across Latin America.
Financial details of the transaction were not disclosed, but the deal follows Univision unveiling plans to launch PrendeTV as a free, ad-supported streaming platform aimed at U.S. Hispanic TV audiences. And it comes on the heels of an investor group led by former Viacom CFO Wade Davis completing an acquisition of a 64 percent stake in Univision.
VIX operates the largest Spanish-language, free ad-supported streaming platform serving Latin American and U.S. Hispanic audiences, with a content library of 20,000 hours of free Spanish-language film and TV programming.
PrendeTV takes its name from a Spanish word meaning “turn on” or “switch on.” The service will launch with some 10,000 hours of Spanish-language programming, including novelas, comedies, global TV series, sports and feature films.
Univision plans to accelerate its AVOD plans for the U.S. market by folding VIX into PrendeTV for greater scale domestically. As a combined entity, PrendeTV and VIX will deliver over 30,000 hours of content to viewers and advertisers.
“VIX is the next key step towards Univision’s goal of building the most comprehensive ad supported streaming offering ever amassed for Latino audiences,” Pierluigi Gazzolo, president of Univision and chief transformation officer, said in a statement.
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