Pappas Telecasting of Visalia, California, and Mexico’s second largest broadcaster, Television Azteca, will today announce plans to launch America’s third national Spanish-language network.
Branded Azteca America, it will compete head-on with existing Hispanic networks Univision and Telemundo.
Pappas will control 80% of the new network, gaining this in return for a raft of TV stations in fourteen Hispanic markets, among them Los Angeles and Miami. The remaining 20% is held by Television Azteca which will contribute program content.
Says Harry Pappas, Azteca America's chairman and chief executive officer designate: “Consumer spending in the US Hispanic market is just a little below the total gross domestic product of Mexico." He predicts that the new network will be "a core media buy for advertisers in the $421 billion Hispanic consumer market".
News source: Wall Street Journal