TV Azteca sells U.S. network Azteca America to HC2

tv-azteca

Mexico’s TV Azteca announced that it has sold Azteca America – the company’s broadcast television network focused on the U.S. Hispanic market – to HC2 Network Inc., a subsidiary of HC2 Holdings, a diversified holding company based in New York City.
Through this transaction, HC2 Network acquired Azteca America, some rights on part of its programming inventory, marketing, advertising sales, assets finance and operations.
The transaction also includes a seven-year programming and services agreement that will allow HC2 Network to have access, under certain rules, to TV Azteca’s library and programming in Mexico, including top entertainment shows, talk shows, reality programs, network and local news, as well as telenovelas and other scripted series.
The sale is “Congruent with the company’s firm strategic purpose that focuses on solid core operations in Mexico and maximizes profitability abroad”, said the company.
“This new path forward will place us in an advantageous position to leverage our strengths and our expertise to meet the ever-changing demands of the marketplace and further solidify Azteca America as an industry leader in premium Spanish-language content,” said Manuel Abud, President and Chief Executive Officer of Azteca America, who will remain at the helm of the network.

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