{"id":35705,"date":"2022-06-03T23:02:57","date_gmt":"2022-06-03T23:02:57","guid":{"rendered":"https:\/\/harchi90.com\/a-new-latino-media-group-is-buying-up-and-shaking-up-spanish-language-radio\/"},"modified":"2022-06-03T23:02:57","modified_gmt":"2022-06-03T23:02:57","slug":"a-new-latino-media-group-is-buying-up-and-shaking-up-spanish-language-radio","status":"publish","type":"post","link":"https:\/\/harchi90.com\/a-new-latino-media-group-is-buying-up-and-shaking-up-spanish-language-radio\/","title":{"rendered":"A new Latino media group is buying up – and shaking up – Spanish-language radio"},"content":{"rendered":"
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Creating a beachhead in a broadcast market often dominated by conservative, sometimes right-wing programming, a newly formed, Latino-owned and bipartisan media group is announcing Friday it has purchased 18 major Spanish-language radio stations owned by the TelevisaUnivision network – including Miami’s Radio Mamb\u00ed.<\/p>\n

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WLRN has learned that the Latino Media Network, or LMN – headed by Stephanie Valencia, a Latino community outreach director for former President Barack Obama, and Democratic activist Jessica Morales Rocketto – has bought the stations for $ 60 million. The media startup has launched after raising an initial $ 80 million.<\/p>\n

A Univision spokesperson confirmed the sale.<\/p>\n

The AM and FM stations are located in 10 of the country’s largest Latino markets, including Miami, New York, Los Angeles, Chicago, Dallas, San Francisco, Houston and Las Vegas.<\/p>\n

LMN says it has secured financing from “leading Latino investors” as well as Lakestar Finance, an investment group associated with businessman-philanthropist George Soros.<\/p>\n

Other prominent LMN investors and advisers include Hollywood actress Eva Longoria, former Florida Republican Party chair Al C\u00e1rdenas, former Miami-Dade College President Eduardo Padr\u00f3n and radio entrepreneur Tom Castro.<\/p>\n

“In the Latino community radio still plays such an important part, and in places like Florida it obviously plays a critically important part,” Valencia told WLRN.<\/p>\n

“And Latinos are looking for trusted voices.”<\/p>\n

The question now is what sort of voice will replace the programming at stations like the ultraconservative Radio Mamb\u00ed (WAQI 710 AM). It’s long been an institution for Miami’s Cuban exile community. But, like many Spanish-language stations here, it’s also been criticized for pushing right-wing and sometimes racist disinformation.<\/p>\n

Democrats have long chafed at much of that agenda, particularly in 2020 when talk show hosts at stations like Mamb\u00ed labeled then-presidential candidate Joe Biden a “socialist<\/i>“who would turn the US into a left-wing dictatorship like Venezuela’s.<\/p>\n

Valencia said that will change, but insisted Mamb\u00ed will not adopt a left-wing bent under LMN.<\/p>\n

\u201cThere are elements of Radio Mamb\u00ed that are really important to preserve,” Valencia said. “It has been an important part of the community and experience in Miami.<\/p>\n

“But we do believe in … balanced journalism.”<\/p>\n

Until now, Democrats and Latino liberals and moderates had focused their efforts and resources on monitoring Spanish-language radio outlets instead of trying to own stations themselves.<\/p>\n

“As Latinos drive population growth in the United States …[and] with minority media on the decline, now is the time to be investing in more resources to create content for Latinos by Latinos, “Valencia said in a statement earlier Friday.<\/p>\n<\/p><\/div>\n