LOS ANGELES, April 5 /PRNewswire/ -- In a strong demonstration of support,
influential industry leaders including EchoStar Communications Corporation
(Nasdaq: DISH), Time Warner Inc. (NYSE: TWX), Syndicated Communications
Ventures, Columbia Capital, Rho Ventures, DND Capital Partners, Llano Partners
and company co-founder Barshop Ventures have invested over $60 million in Si
TV, the English-language Latino-themed network that launched this February in
over 7 million homes.
Los Angeles-based Si TV, which targets the burgeoning market of
18-34 year-old 2nd and 3rd generation U.S. Latinos, features English-language
Latino programming including the latest in music, comedy, drama and fashion.
Over 45% of Si TV's programming consists of original shows, such as Urban
Jungle, The Rub, Latino Laugh Festival, The Drop and Styleyes. The company
has completed affiliation agreements with EchoStar, Time Warner Cable, Comcast
and Cox Communications and has launched with charter advertisers Wal-Mart,
Sears, General Motors, US Army, Earthlink, Conair, and Sony Music.
EchoStar's Senior Vice President of Programming Michael Schwimmer
commented, "EchoStar's investment underscores our commitment to innovative
programming, and we feel that Si TV meets the needs of the widely underserved
English-speaking Latino audience. Their programming has universal appeal and
we're happy to make it available to millions of homes."
Rachel Lam, Vice President and Group Managing Director for Time Warner
Investments said, "Time Warner has been committed to the success of Si TV
since its early days. Aiming to extend our support of Si TV, we have now made
an equity investment in the network, which builds on our existing affiliation
agreement through Time Warner Cable. We are excited about the growth
prospects of this innovative network and have great confidence in Si TV's
diverse management team and its ability to better serve the Latino
audience -- an important market for us."
Si TV Co-founder and Chairman Jeff Valdez stated, "The fact that these
investors have decided to back Si TV is a confirmation of the interest in
English-language programming for Latinos and the multicultural audience which
is quickly becoming the new general market." He added, "We could not be more
delighted to have the partnership of such a diverse and prestigious group of
DND Capital Partners LLC, whose principals Co-Chairmen and Chief Executive
Officers Philippe Dauman and Tom Dooley both served as Viacom's Deputy
Chairmen, support Si TV's endeavor. "We believe the Latino community is the
fastest growing and yet one of the most underserved segments of the viewing
audience," said Dauman. "The best concept we have seen to address this need
in an exciting and innovative way is Si TV."
Citigroup Global Markets Inc. acted as sole placement agent for the
About Si TV
Si TV is an English-language, Latino network featuring hip and irreverent
culturally relevant programming targeting the growing young Latino and
multi-cultural TV audience. Si TV has forged affiliation agreements with
Comcast Cable, Time Warner Cable, Cox Communications and Grande
Communications, while EchoStar's DISH Network has added Si TV to its
"America's Top 120" package. Si TV has previously distinguished itself with
the production of original programming including "Latino Laugh Festival,"
"Funny Is Funny!" and Nickelodeon's highly rated and critically acclaimed
family comedy "The Brothers Garcia," which made television history as the
first English-language sitcom with an all-Latino cast and creative team of
writers, directors and producers. Founded and chaired by writer/producer Jeff
Valdez and entrepreneur Bruce Barshop, Si TV was established in 1997 as a
production company to develop, produce and distribute original
English-language, Latino entertainment.
SOURCE Si TV