Morales out at MundoMax, Molina named Interim President

MundoMax, the U.S.-based Spanish-language broadcast network wholly owned and operated by media conglomerate RCN Television Group, announced the appointment of Jose I. Molina to Interim President. Mr. Molina, who will also retain the title of Chief Financial Officer, replaces Ibra Morales, who has stepped down as President to pursue other interests.

“Laying the groundwork for the network’s promising future over the past two years has been an amazing and rewarding experience,” stated Morales. “Backed by the tremendous resources of RCN and a seasoned management team, I believe the network will be in an outstanding position to serve the vibrant and diverse U.S. Hispanic community. As an independent entity, MundoMax is now well on its way to writing the next chapter in its development and expansion. I will forever be grateful for this unique opportunity and look forward to watching as MundoMax fully leverages its assets and seizes the opportunity ahead.”

“I am very fortunate to have joined MundoMax at such a pivotal time in the network’s young history,” said Molina. “Ibra has played a major role contributing to the network’s reorganization efforts.  Building on his success, I look forward to continuing to work closely with our board, management team and employees as we continue to realign our operations for the next stage of growth. We are taking a very disciplined and strategic approach, supported by our parent company, RCN Television Group, which is committed to leveraging its content resources to build a successful Hispanic media platform in the U.S. Given our unique resources and programming focus, I believe we have a very attractive opportunity to expand our presence and build audience and advertising share over time.”

Prior to joining MundoMax, Mr. Molina served for 14 years at Spanish Broadcasting System, most recently as Vice President of Finance. He played a senior role in the areas of financial planning & analysis, SEC reporting, M&A strategy, and financing. Previously, he worked at KPMG LLP, specializing in the media industry.