On May 9, new audiovisual giant TelevisaUnivision announced the acquisition of Spanish-language streaming service Pantaya, currently available in the United States and Puerto Rico, wholly owned by Hemisphere Media Group. According to TelevisaUnivision’s release, the upcoming transaction “builds upon the company’s investments” in preparation for the launch of its global streaming service Vix+. Were it not for the acquisition, Pantaya would be about to become one of the main competitors of Vix+ in the US and Puerto Rico.
Pantaya offers current and classic movies and series, as well as several exclusive titles. The platform was born in 2017 as a joint project between movie studio Lionsgate and Hemisphere. In its release, the acquiring company said: “The addition of Pantaya’s content, subscribers and world class team further accelerates the transformation of TelevisaUnivision, effectively bolstering its global streaming offering Vix+, which is expected to launch in the second half of 2022.” Vix, the company’s free OTT, launched on March 31.
The transaction, which is subject to regulatory approvals required in the United States, is expected to close in the second half of 2022.
In exchange for Pantaya, Hemisphere is to receive cash, the amount of which has not been disclosed, plus certain Puerto Rican radio assets including WKAQ AM and KQ105 FM, currently owned by TelevisaUnivision. The radio assets “will be an ideal complement to WAPA”, the TV network owned by Hemisphere in Puerto Rico, noted Alan Sokol, Chief Executive Officer of the company.