MediaCo Holding has acquired all of Estrella Media’s network, content, digital and commercial operations, the company announced on Thursday (April 18).
According to a press release, the transaction — which closed April 17 — will see Estrella Media brands join MediaCo. These include the EstrellaTV network’s linear and digital video content business, Estrella Media’s digital channels (EstrellaTV, Estrella News, Cine EstrellaTV and Estrella Games) and the EstrellaTV app.
Though the deal does not include Estella Media’s TV and radio stations, a press release notes that the transaction will allow MediaCo to “reach the established audiences of” those stations, including Que Buena Los Angeles, La Raza in Houston and Dallas, and El Norte in Houston. MediaCo operates urban radio stations HOT 97 and WBLS 107.5 in New York. Per the transaction terms, Estrella will own and operate its local radio and TV stations while MediaCo will “provide the innovative programming and content to which their audiences have grown accustomed.”
Jacqueline Hernández, who most recently served as CEO/founder of New Majority Ready, has been appointed MediaCo’s interim CEO. “We believe this combination is the first step in building a unique multicultural media company that will reach diverse U.S. audiences wherever they choose to consume content and create value for marketers working to reach these important audiences,” she said in a statement.
“This leverages the strengths of two great companies to build something new,” added Deb McDermott, chair of MediaCo. “We are committed to representing and serving the Hispanic marketplace, as well as continuing to represent and grow the diverse audience that MediaCo already serves. We see a need for media brands to embrace opportunities with all audiences, and Estrella Media is a key part of our growth strategy.”
