After months of cutbacks and winding down of its affiliate network, MundoMax management finally made it official today. It will stop broadcasting on November 30.
In an email message sent out today, MundoMax’s President José I. Molina admitted they were “unable to settle on a distribution model that was economically feasible for our business.”
The announcement comes a little more than a year after RCN Colombia bought Fox’s stake in the joint venture the companies founded in 2012 when they created MundoFox.
For more details on the network’s demise, check out my story on Forbes.
Here’s Molina’s announcement:
Dear colleagues and friends,
As you know from our conversations these last few months, we are in the final stage of winding down our affiliate network. Our stations in Los Angeles and Miami will conclude their affiliation with MundoMax at the end of this month.
Given the many changes underway across the entertainment landscape and despite having access to world class content, we were unable to settle on a distribution model that was economically feasible for our business. Therefore, we will be ending our network and affiliate operations.
We wish to thank our partners, advertisers, and colleagues across the Hispanic media industry for their support over the years. Most importantly, we want to acknowledge our many talented employees for their hard work and dedication. We are honored to have worked with all of you and we greatly appreciate everything you have done for MundoMax and the viewers we serve.
I would like to join Nick Valls and our sales team in thanking the many advertisers who supported MundoMax and included our network and stations in their media plans. Their commitment to serving the nation’s Hispanic consumers sustains our industry and ensures our market can continue to thrive as media consumption preferences change over time.
As the nation’s Hispanic population continues to grow and becomes ever more influential in all aspects of our society, we know that Spanish-language media will continue to play a role in informing and entertaining this vital consumer group.
As we sign off, I want to personally thank each and every one of you who labored so hard in often challenging conditions to serve our viewers, affiliates and clients. You have all made significant contributions to the history of Spanish-language media and I know our collective future remains very promising.
Sincerely,
José I. Molina
President and CFO
MundoMax