Categorized | TV & Radio

Sokol to lead newly created Hispanic media company

InterMedia-logoInterMedia Partners is creating a new Spanish language media company –  Hemisphere Media Group in a deal valued at about $400 million.

The newly formed company will be the result of a merger of InterMedia Partners’ Hispanic network holdings, which include Cine Latino, Spanish-language cable network WAPA America and broadcaster WAPA TV, with the publicly traded shell corporation Azteca Acquisition Corp.

Alan Sokol

Alan Sokol

Former Telemundo COO Alan Sokol will be the CEO.

According to Multichannel News, the deal is expected to close by April 6.  InterMedia will own 73% of Hemisphere and Azteca shareholders will hold the remaining 27%.

Azteca will contribute $100 million in cash assets to the deal. The InterMedia assets are valued at about $300 million.

 

 

This post was written by:

- who has written 3284 posts on Media Moves.

I'm an Emmy award-winning journalist, who's worked as an on-air reporter in Spanish and English-language television news. I've worked for Univision, Telemundo, CNN en Español and Los Angeles Fox and UPN stations before diving into a convergence model at the San Jose Mercury News, later to enter the online digital sphere. I am currently the West Coast Web editor for impreMedia. I was president of the National Association of Hispanic Journalists from 2004 to 2006. I am also a freelance writer, reporter and producer and a columnist for Poder Hispanic magazine. I founded Media Moves in June of 2007.

Contact the author

Comments are closed.