Hispanic broadcaster Estrella Media and its network, content, digital, and commercial operations have been acquired by MediaCo Holding. Estrella owns 11 radio stations nationwide and broadcasts syndicated content across 32 markets via its Don Cheto Radio Network.
This deal, which does not currently include an asset purchase agreement for Estrella Media’s TV and radio stations, could lead to future opportunities for MediaCo to acquire these assets, pending FCC approval.
The acquired assets also include brands such as EstrellaTV and the EstrellaTV app, as well as Estrella News, Cine EstrellaTV, and Estrella Games.
The acquisition, which was finalized April 17, involves significant leadership changes at Burbank, California-based Estrella Media. Peter Markham, CEO since October 2019, will be stepping down, and Jacqueline Hernández, previously CEO and Founder of New Majority Ready, will serve as interim CEO.
Hernández commented on the merger’s potential, stating, “This combination of tested media brands and talented teams will fuel growth of content and distribution for the benefit of our multicultural audiences. We believe this combination is the first step in building a unique multicultural media company that will reach diverse U.S. audiences wherever they choose to consume content and create value for marketers working to reach these important audiences.”
MediaCo Chair and Standard Media CEO Deb McDermott also highlighted the synergistic potential of this acquisition, “This leverages the strengths of two great companies to build something new. We are committed to representing and serving the Hispanic marketplace, as well as continuing to represent and grow the diverse audience 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.”
Kudjo Sogadzi, President/COO of MediaCo, expressed enthusiasm about the future, noting, “Today marks the beginning of an exciting journey for MediaCo. As we embark on this next chapter, we see a great opportunity to combine our strengths and capabilities to redefine how we deliver media to our diverse audiences.”
