Spain’s top television company, Telecinco, has made its first investment in North American television, investing 32 million bucks to acquire a 28.3% stake in CaribeVisión. In addition to its investment, Telecinco will also be contributing its content, advertising and management know-how to CaribeVisión, which currently operates TV stations in New York, Miami and Puerto Rico. The company’s stated objective is to cover the East Coast of the US, from Boston to Puerto Rico, reaching approximately 20% of the US Hispanic market.
