Voz Media will acquire Mega TV. Spanish Broadcasting System (SBS) announced this morning that it is selling its television and certain related assets to Voz Media Inc., owner of voz.us, for $64 million.
This is not the first time that Voz Media and Mega TV have worked together. In December of last year, the two collaborated on the broadcast of Noche de Paz (Silent Night), a television special directed by Emmy winner Karina Yapor. This served as the starting point for the ensuing purchase negotiation that the Hispanic broadcasting network closed this week. The deal was officially announced Feb. 13 by Raúl Alarcón, president and CEO of SBS:
I am very proud of the nearly two decades of award-winning programming, community dedication and industry accolades achieved by Mega TV, a network operation that has managed to carve out its own unique position among Hispanic viewers in the United States and Puerto Rico. I am especially pleased to place this unique asset in the hands of a dedicated Hispanic owner, Orlando Salazar, founder of Voz Media, who will continue Mega TV's expansion and honor its unwavering commitment to faithfully serve our nation's growing Latino population. Minority ownership of the media and the opportunities it offers our nation's fastest-growing constituency are critical components in ensuring a stable, profitable, and bright future for America.
Mega TV, a staple in Hispanic television
The purchase must still be approved by the Federal Communications Commission (FCC) before Mega TV officially becomes part of Voz Media Inc., which has offices and studios in Dallas, Miami and Madrid, Spain. However, it represents a tremendous step forward to fulfill Voz Media’s goal of forging a medium for reference and communication for the Hispanic community in the United States. This is how Orlando Salazar explained it:
It is an honor for Voz Media to be selected to continue the work and tradition started by Raúl Alarcón and Mega TV in the Spanish-language audiovisual media market. We take the challenge of advancing Mega TV in both reach and content seriously as we continue to serve Spanish speakers across the United States.
This is a mission that Voz Media shares with SBS, which was pleased to be able to successfully close the deal. Albert Rodríguez, president and director of SBS, assured that he was satisfied that Mega TV passed into the hands of the Salazar-led company:
We couldn't be more proud of the fact that Mega TV's legacy continues under the leadership of another Hispanic-owned company. Orlando and the Voz Media team have our full support, and we look forward to working with them through this transition and beyond.