Viacom Inc. is in the process of acquiring Eduardo Caballero’s MásMúsica TeVe Network and 10 of his TV stations, officials said Tuesday.
Viacom, as a huge media conglomerate, has the resources and is in the best position to grow MásMúsica TeVe and serve the increasingly important Hispanic market, according to Caballero, CEO of both Caballero Television LLC and MásMúsica TeVe.
“[Viacom] certainly [is] in a much better position to bring MásMúsica to the next step,” he added. “We think this is a very viable product that is needed in the market because of the importance music has to reach all of the different Hispanic groups.”
Caballero, a Hispanic broadcasting and advertising pioneer, declined to discuss any of the financial details of the pending sale. But Viacom filed papers with the Federal Communications Commission last week seeking approval for the pending deal -- the purchase of MásMúsica TeVe and the Caballero stations that air it.
A spokeswoman for Viacom’s MTV Networks said it was premature to talk about the company’s plans at this time, but details will be forthcoming.
A total of 10 of Caballero’s 12 stations, as well as 30 other TV-station affiliates, are now carrying MásMúsica TeVe, according to Caballero, who launched the service in 1998.
The stations Caballero is selling are mainly located in Northern California and central Texas.
The Spanish-language network targets Hispanics 18-34 with music and entertainment programming, including a good portion of music videos. It incorporates popular Spanish music formats such as “Regional Mexican,” “Latin Pop,” “Tropical” and “Rock en Español.”
MásMúsica TeVe distributes its programming via satellite to its network of TV stations, both owned and affiliates. For example, in Miami, MásMúsica TeVe airs on WGEN-TV, which is carried by Comcast Corp. and Adelphia Communications Corp. in south Florida.
The network reaches nearly 70% of U.S. Hispanic households, according to Caballero.