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Univision exits El Rey Network

US Hispanic-focused El Rey Network is to continue as an independent company after Univision gave up its minority share in the entertainment brand.

Robert Rodriguez

Univision will continue to provide El Rey with sales and distribution services following the deal, terms and financial details of which were not disclosed.

It comes as Univision is set to be acquired by private equity firm Searchlight Capital Partners and media investment company ForgeLight, with the deal on track to go through by the end of this year. Mexican broadcaster Televisa is retaining its minority stake in the company.

El Rey Network will now be jointly owned by Mexican-American filmmaker Robert Rodriguez and FactoryMade Ventures.

The two have been on board since the cablenet was announced in 2012 as part of the diversity drive US media giant Comcast embarked on at the behest of regulators as a condition of its multibillion-dollar takeover of NBCUniversal in 2011.

Univision came on board shortly after the network, described as an English-language, Latino-infused entertainment brand, launched in the US in 2013.

El Rey features programming including reality, scripted and animated series, movies, documentaries, music, comedy and sports and targets the growing Hispanic community in the US.

Robert Rodriguez, El Rey’s chairman, said: “Thanks to Univision’s support and guidance, El Rey has been able to achieve more than we ever imagined and I’m confident that with this strong foundation we will continue to successfully serve one of the most important and influential audiences.”

“Univision initially partnered with Robert and the El Rey team in an effort to support an innovative brand with the goal of successfully reaching young Hispanics in a way that nobody had done before,” said Vince Sadusky, CEO of Univision.

“We look forward to watching all that El Rey will undoubtedly accomplish in the future. For Univision, we remain focused on the anticipated close of our transaction with ForgeLight and Searchlight and we are excited about all that lies ahead.”

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