MADRID and NEW YORK, October 19, 2009 – PRISA, (Promotora de Informaciones, S.A), (BMAD: PRS), the leading global Spanish-language media company, announces an historic investment in and alliance with V-me Media,Inc., the U.S. Hispanic content/distribution company and owner of national Spanish-language network V-me, which ranks behind only Univision’s and Telemundo’s broadcast channels in national household distribution.
In the most significant U.S. move ever by a Spain-based media company, PRISA will make an investment of cash and programming as a first step to a path of control in V-me Media, Inc.
Violy and Company acted as advisors to PRISA, identifying the strategic opportunity as well as assisting in the execution of the transaction, in which PRISA will acquire 12% of V-me Media, Inc., increasing to a majority position in the next 12 months.
“This investment represents an aggressive U.S. step forward in PRISA’s consumer-centric global strategy of delivering relevant content through multiplatform distribution to the entire Portuguese and Spanish speaking world,“ said Juan Luis Cebrián, CEO of PRISA. “PRISA has extensively analyzed many U.S. opportunities, but only V-me represents deep expertise in the U.S. market, an existing national distribution platform, high-quality content for a desirable audience, and roots in education and respect for consumers that are key to PRISA’s mission. V-me’s relationship with public television is a clear example of this unmatched credibility and quality.”
V-me and PRISA will leverage their shared commitment to education, information and quality entertainment; a belief in the value of the U.S. Spanish-speaking market; and a substantial two-way international pipeline of advertising and sponsorship inventory, distribution, and content development.
“PRISA is a perfect partner for V-me,” said Carmen M. DiRienzo, president and CEO of V-me. “PRISA’s world-class content and production resources combined with V-me’s creative development and distribution present powerful opportunities to develop new programs and channels for domestic and international markets,
and to expand and develop brands across PRISA’s radio, publishing and broadcast assets.”
The original shareholders of V-me – Syncom Venture Partners; The Baeza Group , led by V-me’s Founding Chairman Mario L. Baeza; and Educational Broadcasting Corporation, a company of WNET.ORG, the PBS-affiliated public media provider in New York City – will continue to be represented on the board of V-me Media, Inc., PRISA's investment will result in additional board seats, eventually representing majority control for PRISA.
ABOUT PRISA
PRISA is the world’s leading Spanish and Portuguese-language business group in the fields of education, information and entertainment. Present in 22 countries, it reaches more than 50 million users through its global brands El País, 40 Principales, Santillana and Alfaguara. Its presence in Brazil and Portugal and
among the growing Hispanic community in the US has given the group an Ibero-American dimension and has opened up a potential global market of 700 million people. http://www.PRISA.com
ABOUT V-me
V-me Media,Inc., a media production and distribution company, owns V-me, one of America's largest Spanish networks, which entertains and informs Latino families in Spanish with a programming alternative of primetime drama, music, sports, current affairs and Latin cinema, along with world class kids, food, lifestyle and nature. The 24-hour network, partnered with public television stations, is the first venture from V-me Media, Inc., and is currently available in over 70% of all Hispanic homes - rising to 80% by year end 2009. To find out more visit www.VmeTV.com
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Contact:
For V-me: Natalie Judd 203-605-9515 or
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; Wilson Guzman 646-747-8821 or
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For PRISA: Bárbara Manrique de lara Jiménez +34 913 301 079 or
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