PBS announced that it has bought a minority stake in V-me, a Spanish-language digital cable network. V-me airs on public television stations across the nation and gives PBS a stake in the fast-growin Hispanic media market.
The lead investor for the deal was the Baeza Group, with other investment revenue coming from venture capital firm Syncom Funds.
V-me is a 24-hour network that divides itself into four groupings: kids, lifestyle, factual, and movies/specials. There is a strong emphasis upon eductional content, with each programming day beginning with a six-hour block for children. The commitment to quality children's content was the reason PBS invested in the venture, according to V-me President Carmen Direnzo.
Tony Thomas, speaking for Syncom said that there was a void in this programming in the Hispanic media marketplace, and this positions them well for the market which most people believe is about to explode.
At this time V-me will have a reach into 28 million homes to start with, being spread across 18 markets with huge Hispanic populations.
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