Prisa to invest in US Hispanic programmer

Spanish media company Prisa will invest €31.4m to acquire a 51% stake in US Hispanic broadcaster V-me.

Prisa, through its Sogecable pay-TV unit, originally acquired a 12% stake in the Spanish language network in 2009. Earlier this year it paid €3.2m to raise its stake to 23%. In a statement to the US Securities and Exchange Commission it said that it would pay an additional €8.2m this year to take a 35% stake and in 2011 it would invest €20m to bring its stake to 51%.