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 was completed on April 17 — will see the Estrella Media brands join MediaCo. These include the linear and digital video content activity of the EstrellaTV network, Estrella Media's digital channels (EstrellaTV, Estrella News, Cine EstrellaTV and Estrella Games) and the EstrellaTV app.
While the deal does not include Estella Media's television and radio stations, a press release notes that the transaction will allow MediaCo to “reach the established audience” of those stations, including Que Buena Los Angeles, La Raza in Houston and Dallas and of El Norte. in Houston. MediaCo operates urban radio stations HOT 97 and WBLS 107.5 in New York. Under the terms of the transaction, Estrella will own and operate its local radio and television stations, while MediaCo will “provide the innovative programming and content that its audiences have grown accustomed to.”
Jacqueline Hernandez, who most recently served as CEO/founder of New Majority Ready, has been appointed interim CEO of MediaCo. “We believe this combination is the first step in building a unique multicultural media company that will reach diverse audiences in the US wherever they choose to consume content and create value for marketers working to reach these important audiences “, she said in a statement.
“This is leveraging the strengths of two great companies to build something new,” he added Deb McDermott, president of MediaCo. “We are committed to representing and serving the Hispanic market, as well as continuing to represent and grow the diverse audiences 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.”
