FOX sells stake in MundoFox to RCN
DetailsMichelle Clancy | 17 July 2015
FOX International Channels (FIC) has sold its interest in US Spanish-language broadcast network MundoFox to its joint-venture partner RCN Television Group, for an undisclosed sum.
MundoFox launched in the autumn of 2012 as only the third major national broadcasting company to cater to the US Hispanic market.
"We're proud of having started MundoFox with RCN and are confident that they will realise all of the potential of the network," said Hernan Lopez, president and CEO of FIC. "Our company continues to be committed to the US Latino marketplace through its Spanish-language channels, FOX Deportes, Nat Geo Mundo and FOX Life. We want to thank the entire team at RCN, led by Gabriel Reyes, the Ardila Lulle family, management led by Ibra Morales, as well as our valued staff, talent, advertising and station partners for their immense efforts, and wish them much success."
The network has over 50 affiliates and serves the major US Hispanic metropolitan markets.
"RCN is excited to be carrying on the MundoFox network that we started jointly with our partner FIC," said Ibra Morales, who will continue to lead the management team at the broadcast network. "We look forward to serving the remarkably vibrant and dynamic US Hispanic community with our successful programmes and are proud to dedicate our efforts to the continuous growth and success of the network."