EchoStar, Time Warner Back Sí TV4/05/2004 8:49 AM Eastern
Several of Sí TV’s distributors, including EchoStar Communications Corp. and Time Warner Inc., are also putting money behind the new English-language Latino-themed network, officials said Monday.
EchoStar and Time Warner are part of a group of companies giving Sí TV an infusion of more than $60 million in funding. The other investors include Syndicated Communications Ventures IV LP, Columbia Capital, Rho Capital Partners Inc., DND Capital Partners, Llano Partners and company cofounder Barshop Ventures.
Sí TV launched in February, and the network is now in more than 7 million homes, with rollouts on EchoStar’s Dish Network and a couple of Time Warner Cable systems.
The MSO couldn’t be reached for comment Monday, and a Sí TV spokeswoman declined to say exactly what portion of the $60 million Time Warner and EchoStar are contributing.
"Time Warner has been committed to the success of Sí TV since its early days," Rachel Lam, vice president and group managing director for Time Warner Investments, said in a prepared statement.
"Aiming to extend our support of Sí TV, we have now made an equity investment in the network, which builds on our existing affiliation agreement through Time Warner Cable," she added. "We are excited about the growth prospects of this innovative network and have great confidence in Sí TV’s diverse management team and its ability to better serve the Latino audience, an important market for us."
Sí TV investor DND Capital is headed by co-chairmen and CEOs Philippe Dauman and Tom Dooley, who both served as Viacom Inc.’s deputy chairmen.
Sí TV is targeting second- and third-generation U.S. Latinos 18-34. More than 45% of the network’s programming is original.
The channel has affiliation deals not only with Time Warner and EchoStar, but also with Comcast Corp., Cox Communications Inc. and Grande Communications Inc.