Jose Cancela, Principal of Hispanic USA Inc. announced the creation of Sunrise Communications which plans to raise investment capital to fund a radio and television enterprise in a democratic post-Castro Cuba.
The announcement comes on the heels of a study conducted among South Florida Business Leaders that measured the capacity, interest, and preparation of the South Florida business community in anticipation of a democratic change in Cuba and the resulting impact. The study was conducted by the internationally recognized polling firm, Bendixen & Associates, on behalf of South Florida CEO Magazine.
Mr. Cancela announced the identification of nearly a billion dollars to invest in radio and television in a post-Castro Cuba. “Investing in Radio and Television will not have the pitfalls of property rights. More importantly, with a population of nearly twelve million, we see a very profitable business model within a five to eight year period as democracy flourishes in a post-Castro environment.
Mr. Cancela’s background in Spanish Language Radio and Television in the United States is well documented and he is considered one of the leading figures in the field. Asked why he felt the timing was right for this fund, Mr. Cancela stated, “It is only a matter of time before the tired dictatorship comes to an end, and from all the intelligence we have been gathering from in and out of Cuba, there is a true desire from high ranking officials to move towards a democratic Cuba quickly.”
“What started out as a dinner conversation about the future of radio and television in a free Cuba led to the creation of Sunrise Communications and the identification of significant investment dollars from individuals all around the country who see what an incredible opportunity a free and democratic Cuba will be,” stated Mr. Cancela.