Telecinco in U.S. Spanish-speaking TV venture CaribeVision for $32 million

Spain’s leading broadcaster Telecinco (TL5.MC: Quote, Profile, Research) said on Thursday it would gain a foothold in the U.S. TV market by taking a small stake in a new Spanish-language channel.

CaribeVision is a new channel operating in New York, Miami and Puerto Rico which will broadcast to Spanish speakers on the eastern coast of the United States.

The Spanish firm, majority owned by Italy’s Mediaset (MS.MI: Quote, Profile, Research), is a founding investor in CaribeVision and has agreed to buy a 28.3 percent stake in CaribeVision for $32 million.”*

*From: http://www.reuters.com
Traducido: usando Google o Altavista/Babel Fish

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