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Michael Schwimmer was appointed CEO of NuvoTV, the former SiTV, in August 2005. Yet it has been over the last two years when  the company he leads has produced the most news First with the rebranding, then with the involvement of Jennifer Lopez as a shareholder , and ealier this year with the announcement of the acquisition of Fuse Network. Portada caught up with Michael Schwimmer to ask him about the latest developments on the NuvoTV-Fuse integration and the centrality of the multicultural consumer to both NuvoTV and Fuse.

Michael Schwimmer, CEO, NuvoTVHow important is the multicultural consumer in the NuvoTV and Fuse offerings?
Michael Schwimmer, CEO NuvoTV:
“NUVOtv is focused on the modern Latino experience, while Fuse is all about music.  In each environment, multicultural consumers are at the epicenter.  Latinos are multicultural by their nature of their backgrounds and communities, and the modern music central to Fuse is similarly cross-cultural in its essence. We believe both networks, NUVOtv and Fuse, should deliver a largely multicultural experience in order to be relevant and successful.”

How do you think does the Multicultural Consumer impacts the behaviour of the overall consumer in the U.S.?
M.S.: “Young, multicultural consumers are trendsetters and a driving force behind pop culture and consumer behavior.  They are “cool”, early adopters of new technology and social media platforms.  And they are a force to be reckoned with.”

How has the integration and positioning of Fuse TV with NuvoTV been going, what has happened since the acquistion was announced last May?
JenniferLopez-HerLifeHerJourney-rectangle
M.S.: “Our acquisition of Fuse was finalized in July, and we have used the past few months to integrate the teams and evaluate our various options going forward.  We are more excited than ever about how these two networks can complement each other, and look forward to sharing our plans early next year.”

Young, multicultural consumers are trendsetters and a driving force behind pop culture and consumer behavior. 

Meet Michael Schwimmer at Portada’s Evolving America Summit at Digital Hollywood next Tuesday October 21 at the Ritz Carlton, Marina del Rey, Ca. Schwimmer, Horizon Media’s Zach Rosenberg, Starcom’s Monica Gadsby, Glam Media’s Jill Byron, Tribune Publishing Joseph Schiltz and the Agencia de Orci’s Roberto Orci, will be analyzing  the relentless “multiculturalization” of the U.S. and debate whether it is indispensable for marketing and entertainment decision makers to incorporate a Multicultural lens to be successful in U.S. Media, Entertainment and Advertising.

Our Third Quarter 2014 (Issue 55, Year 12) in Digital Magazine Format! Download it at the bottom of this page.

  • ARE YOU READY FOR DEVICE AGNOSTIC MARKETING? Consumers have gone multiscreen for years now. But are corporate marketing departments and media buying units ready? As importantly, do they have accurate data about cross-device usage and engagement?
  • MARKETER INTERVIEW: OLIVIER FRANCOIS, CMO, CHRYSLER: Chrysler’s Chief Marketer notes that his brands Jeep, Dodge, Ram Trucks and Fiat each have a strong presence among Hispanics and represent significant sales opportunities in key segments.
  • NEWS AND TRENDS: Multicultural and media planning firms fine-tune their offerings: NuvoTV buys Fuse, expands distribution network: Kraft’s programmatic push includes Hispanic: Quad buys Brown Printing …and more.
  • SOUNDING OFF: The gist of Thought Leadership Columns by
 Joe Kutchera, Mike Caprio and Ronald Bautista.
  • RESEARCH: Mobile Media: Google leads in combined browser and app audiences while Facebook has the most visited app.
  • OUR VIEW: Content Marketing, a boon for Hispanic advertising agencies.

What: SiTV Media, Inc. , NuvoTV´s parent company, has reached an agreement with The Madison Square Garden Company to acquire Fuse Network for US$ 226 million in cash, a 15% equity stake in the combined company and a Board Seat. Fuse is dedicated largely to music, features original series, specials, exclusive interviews, live concerts and videos.
Why it matters:  NuvoTV will use Fuse to expand its audience. As Bloomberg points out,  even with Lopez’s star power, the channel can more easily gain eyeballs by acquiring another network than by trying to secure its own deals with pay-TV operators. Los Angeles-based NuvoTV reaches more than 32 million households, less than half of Fuse TV’s 73 million.

 

nunotvfuseNUVOtv parent company SiTV Media, Inc. and The Madison Square Garden Company reached an agreement for SiTV Media to acquire the Fuse network from MSG. This was jointly announced by Michael Schwimmer, CEO of SiTV Media and its NUVOtv network, and Tad Smith, President and CEO of The Madison Square Garden Company. Fuse, a national network dedicated to music which became a part of MSG in 2008, reaches 73 million Nielsen subscribers nationwide and features original series and specials, exclusive interviews, live concerts and video blocks. As part of the acquisition, NUVOtv is planning to utilize Fuse’s current street front studio on Seventh Avenue – across from Madison Square Garden – to continue to create dynamic content.

Both networks will continue to operate independently.

Under the terms of the transaction, MSG will receive US $226 million, as well as 15 percent equity of the combined company, which will be subject to potential reduction based on certain performance goals. MSG will also gain a seat on the SiTV Media Board of Directors.

The completion of this transaction, which is subject to Hart-Scott-Rodino clearance and other closing conditions, is expected to occur in MSG’s fiscal 2015 first quarter between July 1 and September 30.For SiTV Media, LionTree Advisors LLC and Jefferies LLC served as financial advisors and Greenberg Traurig LLP and Goodwin Proctor LLP served as counsel, while for MSG, J.P. Morgan served as financial advisor and Sullivan & Cromwell LLP served as counsel. Financing commitments for the transaction were provided by Jefferies Finance LLC.

“The acquisition of Fuse represents a transformational event for us. Enhances our distribution relationships, dramatically expands our aggregate subscriber base, provides substantial economies of scale, affords unique opportunities for programming and cross-promotion and should be extremely appealing to the advertising community as we roll out our plans for both NUVOtv and Fuse,” Mr. Schwimmer stated.

“We are pleased that Fuse has joined the SiTV Media family, and are looking forward to the continued success of the network,” said Mr. Smith.

The networks will continue to operate independently.

The 2013 Upfront season is over and, once again, Hispanic TV networks attracted hundreds of attendees to their respective presentations this week in Manhattan. Overall, 10 U.S. networks presented: Azteca America, Estrella TV, Univision, Discovery U.S. Hispanic, Telemundo, Fox Hispanic Media, Vme, ESPN Deportes, NUVOTV and Tr3s. [Cable nets CNN en Español and mun2 had presented earlier this year, as part of the cable upfronts.]

Unlike previous years, this week’s presentations were not purely about television; most highlighted the growing importance of mobile and digital among their U.S. Hispanic audiences. Here are some highlights:

Univision this year presented its programming slate as a “multiplatform portfolio offering one for all solutions” to marketers. Univision presented clients with opportunities in its online video platform UVideos, its recently launched music service Uforia and touted new digital content, including Flama, a digital destination with original video content for Hispanic millennials.

Telemundo President Emilio Romano
Telemundo President Emilio Romano

In addition to original productions and new partnerships for TV shows, Telemundo this week announced the upcoming launch of TelemundoMás, a video player for web and mobile devices. Earlier this month, the NBCU-owned network had also announced the creation of Fluency, a multiplatform studio in Los Angeles that will produce 90-minute programs for web, mobile and television.

ESPN Deportes on Wednesday unveiled ESPN Sync, the first Spanish-language web-based app that enhances sports consumption by offering a second-screen experience that the network says will be “synchronized” with live events. Accessible across multiple platforms, ESPN Sync will launch later this year and will be available on any platform, iOS, Android or Windows without the need to download any supporting software. It will consist of social media elements as well.

NUVOTV presented its upcoming lineup and announced the upcoming relaunch of its website www.mynuvotv.com and of an on-demand service that will allow viewers watch NUVOTV shows on the go.

FOX Deportes announced that it will continue to own the exclusive Spanish-language rights of the premium soccer tournaments, including UEFA Champions League, Copa Libertadores and Copa Sudamericana. In addition to televising live those matches, Fox Deportes has added interactive approaches at foxdeportes.com and Fox Sports Mobile offers access via video-enabled wireless devices.

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