Univision Acquires Streaming Service Vix, Will Use It To Power PrendeTV Launch
Univision has acquired Spanish-language streaming service Vix as it gears up to launch ad-supported domestic streaming outlet PrendeTV.
Vix is available in the U.S. and throughout Latin America. Backed by by Discovery Communications and Harbourvest Capital, it acquired Latino streaming player Pongalo at the end of 2019. In 2020, its channels Pongalo NovelaClub and movie outlet Moovimex gained distribution via the Roku Channel, Xumo, Redbox, Vizio and Tivo. The company’s footprint now includes more than 30 platforms, including Apple TV, Amazon Fire TV and Android TV.
Financial terms of the acquisition were not disclosed.
Univision was acquired last year by a consortium of investors led by former Viacom CFO Wade Davis, who now leads the Hispanic media giant as its CEO. The company in the coming weeks plans to light up PrendeTV, which it bills as the only ad-supported streaming outlet created expressly for U.S. Hispanics.
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The Vix library includes 20,000 hours of Spanish-language film and TV programming. Including the Vix titles, PrendeTV will offer more than 30,000 total hours.
“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, Univision’s president and chief transformation officer. “Vix’s team, content library and distribution capabilities throughout the Americas immediately positions PrendeTV to lead in free, premium Spanish-language video streaming for U.S. Hispanics and gives our advertising partners a new way to reach audiences at scale through a platform specifically designed for Hispanic consumers.”
Vix CEO Rafael Urbina will stay on at Univision as GM and EVP of AVOD Streaming, reporting Chief Digital Officer Sameer Deen.
“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 said that Vix was built as “a digital streaming company with a commitment to deliver cultural relevance and best-in-class streaming capabilities to Latino audiences.” Through the Univision deal, he added, “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 the transaction.
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