FIC exits MundoFox JV
July 17, 2015
RCN Television Group (RCN) has purchased the entire interest of its joint-venture partner, FOX International Channels (FIC), in the US Spanish language broadcast network, MundoFox.
MundoFox was launched in the autumn of 2012 as the third national broadcast television network catering to the US Hispanic market from one of the major broadcasting companies in the country. The network 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.”
The pair formed the joint venture in January 2012, with the aim of MundoFox bringing a similar sensibility as the Fox Network to Latino audiences, with exciting entertainment, best-in-class programming content and differentiation from the limited options available to viewers.