Latina social entrepreneurs Stephanie Valencia and Jess Morales Rocketto have launched audio-focused startup Latino Media Network (LMN), a new media content creation, talent incubation and distribution company, targeting Hispanic audiences.
On the same day of the new company’s launch, its co-founders announced they signed a $60 million deal to acquire 18 AM and FM stations in Los Angeles, New York, Miami, Chicago, Dallas, San Antonio, Las Vegas, Houston, Fresno, and McAllen.
They also tapped several high-profile entrepreneurs, media and celebrity advisors and board members to support the new venture, including former Univision anchor and current ABC News contributor María Elena Salinas and Mónica Lozano the former publisher and CEO of La Opinión and its parent company, ImpreMedia, which was recently acquired by My Code.
You can read more details about LMN, its radio acquisition and investors on Forbes.