Hispanic Media/Batanga land $5M infusion

“Hispanic Media Inc., the company formed by the merger of Greensboro Spanish-language Internet broadcaster Batanga and Miami-based Planeta Networks in December, has landed a fresh venture capital infusion of $5 million led by H.I.G. Ventures, one of the largest VC firms in the Southeast.

The money will be used primarily for marketing aimed at increasing the reach of the Batanga brand name. It will also be used for content-building and network upgrades to handle the hoped-for growth in traffic to the Batanga channels dedicated to music, sports and cars, as well as Batanga’s sister site PlanetaTV.com.”

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