Vincent Sadusky de Univision
Univision Communications Inc. announced that it has exited its minority position in El Rey Network (“El Rey”), the English-language entertainment cable network and production studio created by Mexican-American filmmaker Robert Rodríguez and FactoryMade Ventures, enabling El Rey to become 100% independently owned.
Univision will continue to provide El Rey with sales and distribution services. Terms of the transaction were not disclosed.
Founded by influential filmmaker Robert Rodriguez, El Rey is an English-language, Latino-infused entertainment brand that showcases a wide range of iconic programming including reality, scripted and animated series, movies, documentaries, music, comedy, and sports. As an independently owned entity, El Rey will continue to leverage its strong brand recognition to serve the growing Hispanic community through unique, original programming.
“This is an important and significant milestone for El Rey, and we’re thrilled to have full ownership of our brand. 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,” said Rodríguez, El Rey Chairman.
FactoryMade CEO John Fogelman added, “From the start of our partnership, Univision believed in the strength of El Rey’s strategy and our potential, and today’s development is a true testament to all we’ve accomplished together.”
“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. 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,” said Vince Sadusky, CEO of Univision.
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