Latino Cable And Online Network Si TV Raises $8.75 Million
Si TV is a Latino cable channel with a complementary online network website. According to an SEC filing, Si TV has raised $8.75 million in funding. Si TV plans to raise an additional $6 million in funding. Si TV previously raised $60 million in funding from EchoStar, Time Warner, Columbia Capital, and Rho Ventures around 2004.
Si TV has about 19 million cable subscribers since they launched. Si TV has syndication deals with Hearst and Verizon. Si TV has dropped in web traffic recently from 500,000 uniques last year to about 150,000 uniques per month. The new round of funding may be used for a website redesign or the acquisition of other online properties.
Si TV is in the midst of launching a new season of TV series Model Latina. Si TV also issued a statement about the appointment of Supreme Court Justice Sonia Sotomayor.
“Latinos that their dreams can become reality through education, hard work and a strong family. At Si TV, a network dedicated to providing positive entertainment for the American Latino community, we take enormous pride in Justice Sotomayor’s landmark appointment. We congratulate her and wish her well in her new role on our nation’s highest court,” stated Si TV CEO Michael Schwimmer.@amitchowdhry or on Google+ at +AmitChowdhry