Hispanic Television Network announced it has agreed to acquire Latin-community Internet destination, Cubico.com. HTVN has held 48% of the Silicon Valley based Internet company since March of 2000. Terms of the transaction were not disclosed.
"Acquiring Cubico is consistent with our strategy of becoming a leading Hispanic media company," said HTVN Chairman James A. Ryffel. "The roll up of Cubico into HTVN maximizes the efficiencies of HTVN assets that also include the core broadcast division and Televideo, HTVN's commercial, music video and event production company."
Cubico is a leading online community site among the 17-29 age demographic.
"Cubico targets the most dynamic part of the U.S. Latino population," said Nora Sandoval, Vice President and Executive Producer of Cubico. "The youth market is at the core of Latino spending trends. The integration of Cubico into HTVN will allow the network to better target the Latino market using a multi level approach across digital platforms."