InterMedia Partners to purchase Puerto Rican television station WAPA-TV for $130mNew York-based private equity firm InterMedia Partners has agreed to acquire WAPA-TV, a television station located in San Juan, Puerto Rico, for $130m in cash from LIN TV Corp.
WAPA-TV is one of three national broadcasters in Puerto Rico. As part of the purchase, InterMedia will also be acquiring WJPX-TV, which is programmed as MTV Puerto Rico; and WAPA America, a US cable and satellite channel targeting Hispanics.
Alan Sokol, former chief operating officer of Telemundo and a senior investment partner at InterMedia, said, 'Puerto Rico is a unique broadcast television market with great tradition and tremendous potential. As the leader in news and original programming, WAPA represents a wonderful media growth opportunity, both within Puerto Rico and as a platform to reach Hispanics in the continental United States.'
InterMedia focuses on control investments in media companies. The firm is currently raising its seventh fund.
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