Manuel Abud, president and CEO at Azteca America

Azteca America: With HC2 we found a strategic partner to help us reach scale at US Hispanic

05 de diciembre de 2017

Since the middle of this year, Azteca America was looking for a strategic partner to reach the necessary scale in order to compete in the U.S. Hispanic market. For Manuel Abud, president and CEO at Azteca America the agreement with HC2 Network “is good for the market, HC2 and Azteca America. Is good to have investors betting on the Hispanic market.”

HC2 Network is a holding owned by companies in different areas, among them 113 TV stations, some of them Hispanic.

“Three and a half years ago I made a decision. Ricardo Salinas and Benjamin Salinas recommended to turn around the business. We went through a revamping process, many changes and we made many adjustments, particularly in corporate culture. It has gone quite well, I can’t complain, but early this year we realized that we were going to need a partner to reach a higher scale in the market” Abud explained.

Abud is satisfied with the settlement. “It positions us in a way we weren’t before. Is a great combination between three aspects: distribution and resources of an American company trading at the stock exchange with HC2 broadcast assets, the content pipeline of TV Azteca, and a highly trained executive team, prepared and ready to execute. The conditions are now right for growth” he said.