Pierluigi Gazzolo
Univision Communications Inc. announced it has acquired VIX, Inc., an independent ad-supported streaming service that offers video-on-demand content to millions of U.S. Hispanics and consumers throughout Latin America. Financial details of the transaction were not disclosed.
Earlier this month, Univision announced its first-quarter plans to launch PrendeTV, featuring free, premium, 100% Spanish-language programming.
VIX operates the largest Spanish-language, free ad-supported streaming platform serving Latin American and U.S. Hispanic audiences, including a content library of 20,000 hours of free Spanish-language film and TV programming.
The acquisition of VIX, which will be integrated into PrendeTV in the U.S., will bring immediate scale and momentum to Univision’s free, ad-supported streaming platform. On a combined basis, PrendeTV and VIX will deliver over 30,000 hours of content and growing, with an unmatched variety of Spanish-language programming for its consumers and a unique and powerful value proposition for 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,” said Pierluigi Gazzolo, president of Univision and Chief Transformation Officer.
In addition to content and distribution, VIX also brings to Univision a seasoned executive team led by VIX CEO Rafael Urbina, who will also serve as Univision general manager/EVP of AVOD Streaming and report to Sameer Deen, Univision’s Chief Digital Officer.
“Rafael’s expertise in the video streaming industry, deep knowledge of Latino audiences, and the entrepreneurial approach he has cultivated at VIX will be tremendous assets,” Deen said. “He and his team will contribute immediately to Univision’s focus on expanding the breadth and caliber of our PrendeTV offering for viewers and advertisers.”
Urbina added: “We built a digital streaming company with a commitment to deliver cultural relevance and best-in-class streaming capabilities to Latino audiences. Now we have the opportunity to realize that mission with the largest Spanish-language content company in the U.S., and I couldn’t be more excited about what we can achieve in concert with Univision’s scale and infrastructure.”
Houlihan Lokey served as financial advisor and Locke Lord served as legal counsel to VIX on this transaction.
