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PBS Buys Stake In Spanish Net

New York Post, Wednesday, March 7, 2007 11:15 AM

PBS is taking a minority stake in V-me, a Spanish-language digital cable network, extending its reach into the Hispanic media market. Merchant bankers Baeza Group are lead investors in the net, which launched Monday, and additional seed money is coming from venture capital firm Syncom Funds. Programming on the 24-hour channel is in four genres: kids, lifestyle, factual, and movies/specials but a heavy emphasis is placed on educational content.

According to V-me President Carmen Direnzo, that commitment helped convince PBS to invest. "It's an extension of the PBS mission to use media to engage and educate as well as entertain," Direnzo says. V-me has initial distribution in 28 million homes in 18 markets featuring large Hispanic populations, including New York, Miami, Los Angeles, San Diego and Denver.

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