Spanish-language media and content company, TelevisaUnivision Signed an agreement with Hemisphere Media Group to acquire it Pantayaa premium streaming platform for Spanish-language movies and series, for an undisclosed amount that includes some Puerto Rican broadcast assets.

Through a statement TelevisaUnivision reported that The transaction is expected to be completed in the second half of 2022 Subject to customary terms of sale, including receipt of US regulatory approvals.

Pantaya is an American streaming platform that offers Spanish-language content aimed at both Spanish-speaking and Spanish-speaking viewers, such as Miss 89 s To the bad.

“Adding Pantaya’s world-class content, subscribers and team will further accelerate TelevisaUnivision’s transformation, effectively supporting it ViX + global streamingwhich is expected to be launched in the second half of 2022, TelevisaUnivision explained.

TelevisaUnivision Transformation President and Director Pierluigi Gazzolo revealed that with the purchase, The company will have access to its subscribers and thousands of hours of content Complemented by TelevisaUnivision’s extensive portfolio of intellectual property rights and sports.

“In April we launched the ViX Global AVOD, and we will launch the ViX + Global SVOD in the second half of this year, which will be further accelerated with this strategic acquisition,” Gazzolo said.

On the Pantaya side, the platform will grow robustly as part of TelevisaUnivision in the highly competitive world of multilingual broadcasting, said Alan Sokol, CEO of Hemisphere.

“Pantaya’s service will be better positioned as part of an organization that can provide the resources and investments it needs to expand and grow. In addition, Hemisphere’s acquisition of some of Puerto Rico’s Univision broadcasting assets would be an ideal complement to WAPA, Puerto Rico’s leading television network.”