Rumors of a potential sale of Estrella Media circulated for months, amid layoffs and the cancellation of previously announced new programming. Those rumors came to fruition – at least in part, for now.
MediaCo Holding Inc., owner of urban radio stations HOT 97 and WBLS, has acquired Estrella Media’s content, digital, and commercial assets, including EstrellaTV network, streaming channels, and the EstrellaTV app.
As part of the deal, Estrella Media retains ownership of its local TV and radio stations but grants MediaCo an option to potentially buy them later.
Former Telemundo executive Jacqueline Hernández will lead the combined company as Interim CEO.
For more details about the terms of the acquisition deal, which Estrella executives are remaining during the transition, and a brief history of how the company founded by José and Lenard Liberman lost its way, check out the story on Forbes.