The recent launch of a Spanish-language media company partially financed by billionaire George Soros, and the startup’s almost immediate acquisition of 18 Spanish-language radio stations, was aimed at shifting voting preferences in Latino communities, said Brazilian journalist Paulo Figueiredo.
The new startup, Latino Media Network (LMN), launched in early June by activists Stephanie Valencia and Jess Morales Rocketto, will focus on “content creation, talent incubation, and distribution across multiple platforms” to reach the Latino market, according to a company statement.
The two founders have secured $80 million in capital from investors including Lakestar Finance, an investment group affiliated with Soros Fund Management, the statement said. The new company almost immediately signed a deal to purchase “18 radio stations in 10 cities from coast to coast in a $60 million all-cash deal,” the statement read….