SiTV Media agreed to pay $226M — and give MSG a 15% stake — the entities disclosed this morning. The total value of the cash plus equity comes to about $275M, Stifel analyst Benjamin Mogil estimates. In any event, the company where Jennifer Lopez is a shareholder and Chief Creative Officer outbid an offer from Sean Combs said to be around $200M. Fuse reaches 73M pay TV subscribers, and should boost SiTV and NuvoTV — a Latin American entertainment network that reaches about 34M homes. With Fuse “we’ll have the ability to deliver a broad array of terrific content both from a Latino perspective and across multiple genres, including music, to a broader audience,” Lopez says. “The acquisition of Fuse means we now own two wonderful assets. It’s a phenomenal time for our company and we look forward to growing both networks in the years ahead.” SiTV CEO Michael Schwimmer adds that the deal “enhances our distribution relationships, dramatically expands our aggregate subscriber base, provides substantial economies of scale, affords unique opportunities for programming and cross-promotion and should be extremely appealing to the advertising community as we roll out our plans for both NuvoTV and Fuse.”
NuvoTV will begin airing Dexter beginning January 13, 2014 — airing uncut all eight seasons of the serial killer drama that ended its original run on Showtime in September with record viewership numbers. The content licensing agreement unveiled today …
The multimedia celebrity — in her new role as Chief Creative Officer of NUVOtv — spoke in broad terms at the cable industry confab this morning about plans for this summer to reignite the English-language network …
The news came during NuvoTV‘s upfront presentation in NY, where the English-language cable network targeting U.S. Latinos showed off its 2013-2014 programming lineup. Jennifer Lopez already had a business stake in the network, with her Nuyorican Productions pacting in September to contribute programming, work on strategy and assist in marketing. In exchange, she received a minority stake. She told advertisers today: “Latinos are a force in this country. We are an engine for growth — we have huge economic power and unprecedented political and cultural influence and it’s time for television to reflect who the modern Latino actually is — not who we are believed to be, not who we may have been, but who we are now”. Among NuvoTV’s offerings this year are several with Lopez ties, including a biography special and an unscripted series about the backup dancers on her world tour. Here are the network’s descriptions of the new shows:
Global Briefs: Jennifer Lopez Joins NuvoTV, Virgin-VEVO Deal, Lionsgate-Summit In Spain, European Film Academy Noms
Jennifer Lopez Joining NuvoTV
Lopez and her Nuyorican Productions will contribute programming, work on strategy and assist in marketing the English-language cable network that’s aimed at Latino viewers, she told Bloomberg. In exchange, she’ll receive a minority stake. “I’m going to be a creative executive and part owner who will be very involved with every aspect of the network,” Lopez said. “Development, production, marketing, I’ll be involved on every side of it so we hit all the right points.” NuvoTV said last month it raised $40M from current investors Columbia Capital LLC and Rho Capital Partners and new investors Veronis Suhler Stevenson LLC and Tennenbaum Capital Partners LLC. The money will be used for new shows and marketing, much of which will support Lopez’s efforts, CEO Michael Schwimmer said. NuvoTV is available in 30 million U.S. homes through pay-TV systems operated by Dish Network, AT&T, Verizon Communications, Comcast, Cox Communications, and Time Warner Cable.
Virgin Produced Partners With VEVO For In-Flight Programming
The deal provides the Virgin Produced Channel onboard Virgin America with VEVO music videos and original programming. Music videos from artists such as Katy Perry, Coldplay, Rihanna, will.i.am, Graffiti 6 and David Guetta are currently airing as well as an episode from the VEVO GO Shows series which features a live concert with Demi Lovato. “VEVO’s partnership with Virgin Produced brings our platform to new heights, quite literally,” said Doug McVehil, VEVO’s Senior VP, Programming, Talent & Content Operations. Each block of programming will feature a music-infused program titled VEVO Sound + City which takes Virgin Produced Channel viewers on a musical tour of one of Virgin America’s destinations. The city of San Francisco will be the first stop. The Virgin Produced Channel launched first onboard Virgin America in April.