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Sokol to lead newly created Hispanic media company

January 25, 2013 by Veronica Villafañe

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. (not associated with Mexico’s Azteca broadcasting group.)

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.

 

 

Filed Under: TV & Radio Tagged With: Alan Sokol, Azteca Acquisition Corp, Hemisphere Media Group, InterMedia, WAPA America, WAPA TV

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Veronica Villafañe, Editor & Publisher

Emmy award-winning journalist and former president of the National Association of Hispanic Journalists (NAHJ). Currently a reporter for Voice of America, she has worked as an on-air reporter, anchor, writer and producer for Spanish and English-language TV, print and online media, including Univision, Telemundo, Fox 11 News in L.A. and the San Jose Mercury News.

Hispanic media and entertainment contributor to Forbes.

Full bio here
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