LOS ANGELES, July 6, 2011 /PRNewswire/ -- The Meruelo Group announced today that it has finalized its acquisition of KWHY Channel 22.
"KWHY Channel 22 is a treasure of the Los Angeles community," stated Alex Meruelo, Founder and Chief Executive Officer of The Meruelo Group. " Under our leadership, KWHY will not only continue to provide the quality programming and service we have all come to expect, but will surpass it as we strive to become the premier Spanish language channel in Los Angeles."
The Meruelo Group also announced that Spanish language television seasoned professional Jose Luis Padilla will take the helm as Senior Vice President and General Manager for KWHY Channel 22, effective immediately. Previous to this appointment Padilla served as General Manager of the Univision television group's stations throughout Arizona, where he had also served as General Sales Manager. A Southern California native who graduated from California State University Northridge with a degree in Finance, Padilla worked in the Los Angeles media market at KMEX-TV Los Angeles Channel 34 and returns with 18 years of experience in television.
"Jose Luis Padilla's experience and abilities in shaping Spanish language media are second to none. We are confident that he will dynamically manage and enhance business operations and programming at KWHY Channel 22 to fully meet the station's potential as an independent, Latino owned and locally run community asset," stated Xavier Gutierrez, President and Chief Investment Officer of The Meruelo Group's investment arm.
"I am humbled and honored by this amazing opportunity," declared Jose Luis Padilla. "I grew up watching KWHY Channel 22, and I know for families like mine how much gathering around the television and sharing in its programming is an important part of our family and community fabric. I am committed to providing top quality television for our viewers to enjoy and our sponsors to support."
With roots dating to 1986, the Meruelo Group is a diversified holding and investment company owned and controlled by prominent U.S. Latino business executive Alex Meruelo. The Meruelo Group has diverse holdings in banking and financial services, food restaurants and services, construction and engineering, real estate, hotel/casino operations and private equity. For more information please visit www.meruelogroup.com.
Founded in 1966, KWHY-22 has been serving the Los Angeles community for over 45 years. As part of the Comcast-NBC merger NBCU was directed to divest itself of KWHY-22. Bahia Honda LLC, a divestiture trust was formed under the FCC's rules to operate the station and oversee its sale. In January 2011, The Meruelo Group reached an agreement to acquire KWHY-22. The acquisition was approved by the Federal Communications Commission in April 2011.
Contact: Ruben Gonzalez
SOURCE The Meruelo Group