Hispanic Television Buys Rest of Cubico.com
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NEW YORK — Hispanic Television Network Inc., one of the top Spanish-language broadcasters in the United States, said Monday that it bought the 52% of Internet site Cubico.com it did not own as it seeks to become a broad media company.
Details on the purchase were not disclosed, and company officials were not available for comment.
“The roll-up of Cubico into HTVN maximizes the efficiencies of HTVN assets that also include the core broadcast division and Televideo, HTVN’s commercial, music video and event production company,” company Chairman James Ryffel said in a release.
In March of last year, Hispanic Television bought a 48% stake in Cubico.com, a San Jose-based site that caters to Latinos ages 17 to 29 with music and entertainment reviews as well as free e-mail.
Nora Sandoval, Cubico.com’s vice president and executive producer, said the March purchase was a stock transaction.
“HTVN saw the value on what Cubico was doing, and given that our focus is the Latino in the United States it just makes sense,” she said.
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