NGL Collective and mitú Merge to Create Largest Digital-first Latinx Media and Entertainment Powerhouse in US
01 Aug, 2022, 09:04 ET
GoDigital Media Group Acquires NGL Collective Co-founded by John Leguizamo with Backing from MEP Capital
LOS ANGELES, Aug. 1, 2022 /PRNewswire/ -- GoDigital Media Group ("GoDigital"), a global media and technology conglomerate focused on community, content, and commerce, announced today the acquisition of NGL Collective with the backing of MEP Capital, a media and entertainment-focused investment firm.
As part of the acquisition, NGL Collective ("NGL"), the U.S.' leading New Generation Latinx digital-first media and entertainment company co-founded by actor and activist John Leguizamo and industry leader David Chitel is merging with GoDigital's mitú, a leading digital media publisher dedicated to inspiring, representing, and super-serving U.S. Latinos. The new entity will retain the name of NGL Collective, becoming the largest 100% Latino-focused digital-first Latinx media powerhouse in the country helping advertisers connect with this coveted audience regardless of age or language preference. NGL will cater to a vast network of Latinx creative and media partners, reaching U.S. Latinx communities via an array of social media and editorial sites, in-person and virtual community events, and published research.
"Latinx media consumption is exploding. NGL's expertise in Latinx media solutions and our shared commitment to culturally relevant creativity makes it a great addition to GoDigital's portfolio," said Jason Peterson Chairman and Chief Executive Officer of GoDigital Media Group. "This acquisition cements our foothold in the U.S. Latino media space."
NGL's premium Latino video offerings on web, mobile, social, and connected television and #1 comScore ranking, coupled with mitú's community of more than 13 million social followers and web visitors, will provide an unmatched video-driven experience for consumers and advertisers.
"Latinos are the largest ethnic group in the U.S., accounting for 11% of the buying power, and yet their contribution is consistently excluded in media and entertainment," said John Leguizamo, Co-founder and Partner of NGL Collective. "With NGL Collective and mitú's shared commitment to amplifying the voices of the Latinx community, our platforms and reach will expand. We will create more opportunities for Latinos in front of and behind the camera to speak directly to our community and influence how America sees us and how we see ourselves."
With the combined market presence of mitú brands, comprising wearemitú, somosmitú, FIERCE, crema, and Things That Matter, and NGL brands, consisting of Latina Moms, Hispanic Kitchen, and Hispanicize, the new NGL community will constitute the largest gathering of Latinx influencers, content creators, entrepreneurs, trendsetters, and media and entertainment innovators in the world. NGL's in-house Emmy®-nominated production team will also join forces with mitú's social content and brand studio team, which operates mitú Studios, a 14,000 square foot studio in Eastside Los Angeles.
"For ten years, mitú has built its legacy through creating communities and ensuring Latino voices are heard. Joining forces with NGL enables mitú to continue to build brands, cultural content and experiences that resonate with and represent the diverse U.S. Latino community," said Vanessa Vigil, Chief Brand Officer, NGL Collective. "It's exciting to bring these companies together in a shared mission, with complementary solutions, and be part of leading mitú and NGL brands into the next decade."
NGL will be helmed by current Chief Executive Officer and Founder David Chitel, with the creative support of Partner John Leguizamo. Vanessa Vigil will be elevated from General Manager of mitú to Chief Brand Officer of NGL. Ben Leff, NGL's Chief Operating Officer, Ben DeJesus, President of NGL Studios, and Joe Bernard, NGL's Chief Revenue Officer, will remain in the same capacities. Stephen Brooks, President of mitú and Latido Networks, will oversee the integration of the two companies, focusing on strengthening GoDigital's investments in Latinx media.
"This unprecedented business combination solidifies our mission of being the #1 New Generation Latinx digital-first media and entertainment company in the U.S.," concluded David Chitel, Chief Executive Officer of NGL Collective. "The power and influence of U.S. Latinos merits a company like NGL exclusively focused on connecting advertisers with our coveted audience in-language, in-culture and in-context. The depth of our newly expanded offering inclusive of mitú makes us far and away the leader in our space."
Kroll Securities, LLC served as exclusive financial advisor to NGL Collective in connection with the transaction. Frost Miller LLP served as legal counsel to NGL and Stubbs Alderton & Markiles LLP served as legal counsel to GoDigital. GoDigital's transaction progress was coordinated by Zeevo Group LLC.
NGL Collective ("NGL") is the U.S.' leading independent Latinx media and entertainment solutions company connecting advertisers with the Latinx audience in-language, in-culture and in-context. Decades before it was cool, understood or even acceptable to talk about the NGL (New Generation Latinx) majority that is driving growth in America, NGL Collective was dedicated to modernizing the way advertisers reach and engage Latinx. As the group who coined the term "New Generation Latinx," we know NGLs best and help advertisers connect with them through our end-to-end offerings, spanning NGL Media, NGL Studios, NGL Social, NGL Virtual and NGL Solutions. www.nglcollective.com
About MEP Capital
MEP Capital ("MEP") is an investment firm focused on opportunities in the media and entertainment industries, providing support to the creative community. Across digital media, music, film & television, gaming, live events, and digital media, MEP partners with leading industry operators to finance projects, acquire assets, and invest in businesses. We invest through long-term oriented funds, with committed capital from institutions, family offices, and high-net-worth individuals. www.mepcap.com
mitú is a leading digital media company dedicated to inspiring, representing and super-serving U.S. Latinos. As a platform built for Latinos by Latinos, mitú is committed to representing both the collective and unique experiences of the 200% generation - 100% American and 100% Latino - through their multiple touch points in video, editorial, social, media, and research. www.wearemitu.com
About GoDigital Media Group
GoDigital Media Group ("GoDigital") is a diversified multinational conglomerate focused on technology-enabled and vertically integrated IP rights management through its operating subsidiaries. GoDigital is focused on the synergy of content, community, and commerce across music, video networks, and brands. www.godigitalmg.com
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