CaribeVision Television Networks Signs Agreement With Santander Puerto Rico
23 August 2008 - 12:13AM
PR Newswire (US)
MIAMI, Aug. 22 /PRNewswire/ -- CaribeVision Television Networks
announced today the signing of a financing agreement with Banco
Santander Puerto Rico that consists of $13 million for the business
growth of CaribeVision Television Networks and its future
incorporation into 70% of the U.S. market. (Photo:
http://www.newscom.com/cgi-bin/prnh/20080821/CLTH084 ) The
agreement was signed at the Banco Santander headquarters in San
Juan, Puerto Rico, by Jose R. Gonzalez, President and CEO of
Santander Puerto Rico, and Angel Santamaria, CFO of CaribeVision.
"The involvement of Santander Puerto Rico in this major transaction
exhibits the broad and profitable relationship we have with the
Bank, and its commitment towards our shareholders Telecinco, Grupo
Pegaso, Quantek and Barba TV," said Angel Santamaria, CFO of
CaribeVision. "For CaribeVision it is a pleasure to enter into this
undertaking with an institution of Santander's caliber and
reputation. This is a Spanish-language project that involves
clients, suppliers and shareholders of great importance to the
Latin business environment," added Santamaria. Santander Puerto
Rico is part of Santander Group, one of the world's leading banks
by market capitalization, number one in the euro zone and the
biggest financial franchise in Latin America, with presence in 40
countries worldwide. Currently, Santander Puerto Rico offers a vast
and innovative array of financial services designed to satisfy the
financial needs of individuals and businesses in Puerto Rico.
CaribeVision Television Networks, the Hispanic network that reaches
7 million households in the United States, continues to amplify its
programming strategy in the U.S. market. It forges ahead with its
expansion plan, which will soon set new records in the U.S.
Hispanic market with agreements, such as this one, that will
provide business growth, putting the company in a commanding
position in the U.S. television market. About CaribeVision
Television Networks CaribeVision Television Networks, which reaches
more than 7 million households, is owned by Pegaso TV (property of
the Burillo Azcarraga family, Telecinco and Quantek) and Barba
Television. CaribeVision is the only TV channel operating 24 hours
a day, 7 days a week to meet the need for entertainment, news,
sports and information of Hispanic TV viewers and audiences
generally interested in the culture and lifestyle of the Caribbean.
This channel, with complete advertising support, distributed by the
nation's main Multiple Systems Operators (MSO) such as Time Warner
Cable and Comcast, currently provides service to markets in New
York (WPXO-TV), Miami (WFUN-TV) and Puerto Rico. CaribeVision is
available in Puerto Rico on channels WJPX Channel 24 (San Juan),
WIRS Channel 42 (Jayuya), WKPV Channel 20 (Ponce), WJWN-TV Channel
38 (Aguada), Choice Cable - Channel 21, Liberty Cable - Channel 24,
and One Link - Channel 24. The four full-power channels provide 100
percent of the coverage on the island. In addition to broadcasting
serials, special premieres and original production programming that
directly reflect the beauty, rhythm and passion of the tropics,
CaribeVision also presents some of the most popular programs and
news shows from Spain, and news segments from Italy (as a result of
its alliance with Telecinco). For more information about
CaribeVision, visit: http://www.caribevision.com/. About Santander
Puerto Rico Santander Puerto Rico ("Santander BanCorp") is a
publicly held financial holding company that is traded on the New
York Stock Exchange (SBP) and on Latibex (Madrid Stock Exchange)
(XSBP). 91% of the outstanding common stock of Santander BanCorp is
owned by Banco Santander, S.A. (Santander). The Corporation has
five wholly owned subsidiaries, Banco Santander Puerto Rico,
Santander Securities Corporation, Santander Financial Services,
Inc., Santander Insurance Agency, Inc. and Island Insurance
Corporation. Banco Santander Puerto Rico has been operating in
Puerto Rico for thirty-two years. It offers a full array of
services through 57 branches in the areas of commercial, mortgage
and consumer banking, supported by a team of over 1,100 employees.
Santander Securities offers securities brokerage services and
provides portfolio management services through its wholly owned
subsidiary Santander Asset Management Corporation. Santander
Financial Services, Inc. offers consumer finance products through
its network of 68 branches throughout the Island. Santander
Insurance Agency offers life, health and disability coverage as a
corporate agent and also operates as a general agent. For more
information, visit the Company's website at
http://www.santandernet.com/. Santander Group (SAN.MC, STD.N)
("Santander") is the largest bank in the euro zone by market
capitalization and fifth in the world by profit. Founded in 1857,
Santander has EUR 912,915 million in assets and EUR 1,063,892
million in managed funds, 65 million customers, 11,178 branches and
a presence in 40 countries. It is the largest financial group in
Spain and Latin America, and is the sixth largest bank in the
United Kingdom, through its Abbey subsidiary, and is the third
largest banking group in Portugal. Through Santander Consumer
Finance, it also operates a leading in 12 European countries
(Germany, Italy and Spain, among others) and the United States. In
2007, Santander registered EUR 9,060 million in net attributable
profits, an increase of 19% from the previous year. In Latin
America, Santander manages over US$300 billion in business volumes
(loans, deposits, mutual funds and managed funds) through 4,498
offices. In 2007, Santander reported $3,648 million in net
attributable income in Latin America, 27% higher than the prior
year. For more information, visit the official website of
CaribeVision: http://www.caribevision.com/
http://www.newscom.com/cgi-bin/prnh/20080821/CLTH084
http://photoarchive.ap.org/ DATASOURCE: CaribeVision Television
Networks CONTACT: Vladimir Gomez, Manager of Press, Programs,
Communications and External Relations for CaribeVision Television
Networks, +1-786-364-4866, Web site: http://www.caribevision.com/
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