Univision acquires VIX

Univision Communications Inc. announced it has acquired VIX, Inc., an ad-supported streaming service that offers video-on-demand content to U.S. Hispanics and consumers throughout Latin America. 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. “VIX’s team, content library and distribution capabilities throughout the Americas immediately positions 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.”
 
In addition to content and distribution, VIX also brings to Univision a seasoned executive team led by VIX CEO Rafael 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. The addition of VIX’s leadership and expertise will enable Univision to achieve in video streaming what it has been able to do in broadcast and cable: deliver the largest U.S. Hispanic audience and industry-leading solutions to its advertising and distribution partners.
 
“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.”
 
Urbina added: “We built a digital streaming company with a commitment to deliver cultural relevance and best-in-class streaming capabilities to Latino audiences. 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.”