Global media and marketing technology company Entravision Communications Corporation now owns 100% of the interest in Cisneros Interactive, according to a press release.
"We are very pleased to continue to invest in the Cisneros Interactive – Entravision business to enhance our digital market leadership," Walter Ulloa, Entravision CEO and chairman, said in the press release. "This joint venture has been a great addition to Entravision, with impressively strong performance, leadership and culture. Digital revenues have surged over the past three quarters since our majority investment in Cisneros Interactive, and we plan to continue to invest in expanding our global footprint, management and digital service tools."
Entravision acquired a majority stake in Cisneros Interactive in October 2020, according to the press release. The company acquired the remaining 49% interest in August.
"We are excited about this transaction and our continued partnership with Entravision,” Cisneros CEO Adriana Cisneros said, according to the press release. “Working with Entravision over the past nine months has been an incredible opportunity to grow the Cisneros Interactive business with Entravision’s resources and broad network capabilities that have further enhanced the strong client and partnership relationships we have built with some of the world’s leading digital companies. Cisneros plans to maintain this active partnership with Entravision by having the Cisneros Interactive management team continue to manage the business and by exploring new digital ventures at a global scale.”
The acquisition brings Entravision partnerships in 17 Latin American countries.
“Today’s announcement is a major milestone for the Cisneros Interactive and Entravision team, and I would like to thank them and our partners for making this accomplishment possible,” Victor Kong, chief executive officer of Cisneros Interactive, said, according to the press release. “With the support of Entravision, Cisneros Interactive’s business has reachFed new heights. Now, with Entravision acquiring full ownership of our company, we can take our leadership position even further with additional synergies and by further expanding our global reach.”
Entravision also recently acquired MediaDonuts, which expanded the company's digital capabilities in seven new Asian markets.
Founded in 1996, Entravision is headquartered in Santa Monica, California, and provides entertainment primarily to the Spanish-speaking Hispanic community in the U.S. and other Spanish-speaking markets.