NuvoTV snags shiny new $40M investment
Gabriel Miramar-Garcia | 29-08-2012
NuvoTV, an English-language cable network for bicultural Latinos in the U.S., has snagged $40 million financing that it will use to expand its docket of original Hispanic-focused programming.
nuvoTV reaches more than 30 million homes with a range of genres, including comedy, reality, music, movies, lifestyle and talk.
The financing round was led by existing investors Columbia Capital and Rho Capital Partners, as well as new financial partners Veronis Suhler Stevenson and Tennenbaum Capital Partners.
This summer, nuvoTV debuted Fight Factory, a one-hour docu-series about the world of top Latino MMA fighters, featuring well-known champ Cain Velasquez and his coach and kickboxing legend, Javier Mendez.
The network also produced and aired We Decide: Latinos and the 2012 Election, which explored how this year's presidential candidates are addressing crucial issues facing America's Latinos. The town hall-style programme, hosted by Natalie Morales, news anchor of the TODAY Show, was a first-of-its-kind partnership between nuvoTV and NBC News' Peacock Productions.
In the fall, the network is premiering three more new programmes: Mario Lopez One-on-One, The 7 of Clubs and Curvy Girls.
"From our inception in 2004, NuvoTV has been dedicated to providing top-quality English-language entertainment targeting bi-cultural Latinos in the U.S. with contemporary, non-stereotypical formats and stories," said Michael Schwimmer, nuvoTV CEO, in a statement. "Our most recent financing is evidence of our success to date and our commitment to deliver unique and compelling original programming for our viewers."
NuvoTV is a non-publc entity, so additional details of the financing round were not disclosed.