The Latino Media Network, which stirred up controversy in South Florida after it purchased Miami’s Radio Mambí and 17 other stations in Hispanic markets, has received approval from the Federal Communications Commission to buy the Spanish-language stations from TelevisaUnivision.
Following the FCC’s decision to green-light the sale, Latino Media Network took a significant step toward finalizing the $60 million deal. According to reports, Latino Media Network is run by Jess Morales Rocketto, a former Hillary for America and AFL-CIO employee, and partially financed by Soros Fund Management, an investment group led by billionaire George Soros.
A Latino Media Network spokesperson stated the company continued to “focus on creating a broadcast network that is owned by and made for our country’s rapidly growing Latino population” (h/t Miami Herald).
“As we move in 2023, we will be listening to the communities we serve to help build a multimedia network that inspires, informs and celebrates our unique Hispanidad.”
When the two parties struck the deal, it quickly became political as members of Congress from around the United States discussed Latino Media Network’s purchase, especially as it pertained to Radio Mambí.
Conservatives argued that the leaders of Latino Media Network, who have connections to Democratic campaigns and left-leaning networks, would force changes out of step with the listeners of the radio station, which is the Cuban exile community in Miami.
Eduardo Razo is the Assistant Content Editor for BNM, which includes writing daily news stories on the news media industry. He can be found on Twitter @eddierazo_ or you can reach him by email at eddie1991razo@gmail.com.
