The streaming platform will be integrated into PrendeTV in the U.S.. The two services will collectively offer over 30,000 hours of content. The financial terms of the agreement were not disclosed.
Univision Communications Inc. announced its acquisition of AVOD service VIX, Inc.. The financial details of the transaction were not disclosed. “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, President of Univision and Chief Transformation Officer.
Houlihan Lokey served as financial advisor and Locke Lord served as legal counsel for the VIX deal. Earlier this month, Univision announced its plan to launch PrendeTV, also an AVOD service featuring free, premium, 100% Spanish-language programming, during the 1st quarter.“We built a digital streaming company with a commitment to deliver cultural relevance and best-in-class streaming capabilities to Latino audiences," VIX CEO Rafael Urbinasaid. "Now 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.”
VIX's content library offers over 20,000 hours of free Spanish-language film and TV programming. The acquisition of the service will be integrated into PrendeTV in the U.S. The service will be accesssible to more than 30 mobile and connected TV platforms, such as Roku, Apple TV, Fire TV, and Android TV, will bring immediate scale and momentum to Univision’s video streaming business. PrendeTV and VIX will collectively deliver over 30,000 hours of content. “VIX’s team, content library, and distribution capabilities throughout the Americas immediately position 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,” Gazzolo said.
In addition to content and distribution, VIX also brings to Univision a seasoned executive team led by Urbina, who will also serve as Univision General Manager/Executive Vice President of AVOD Streaming and report to Sameer Deen, Univision’s Chief Digital Officer. “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.”
We built a digital streaming company with a commitment to deliver cultural relevance and best-in-class streaming capabilities to Latino audiences.” Rafael Urbina CEO, VIX