Spanish language media giant PRISA (Promotora de Informaciones, S.A.), has purchased a 12% stake of V-me media, the U.S. based company that owns Spanish-language network V-me. PRISA is a leading multi-media company with operations in 22 countries.

The company has holdings in education, information and entertainment and its brands include leading Spanish daily El País, radio network 40 Principales and Cadena SER and publishing houses Santillana and Alfaguara among many other holdings.

In terms of music, PRISA's ownership of 40 Principales and SER, as well as of Caracol Radio and W Radio, which operate throughout Latin America, make it a tremendous force to be reckoned with. VOn its end, V-me was launched three years ago as a partnership with public television and now reaches nearly 80% of all Hispanic homes in the Untied States.

The network ranks behind only Univision and Telemundo's channels in national household distribution. The network's shows include in-depth music interview show "Estudio Billboard." V-me also aired the SPanish language version of the PBS documentary "Latin Music USA."

PRISA has initially acquired a 12% stake of V-me that should increase to a majority position in the next 12 months.

"PRISA has extensively analyzed many U.S. opportunities, but only V-me represents deep expertise in the U.S. market, an existing national distribution platform, high-quality content for a desirable audience, and roots in education and respect for consumers that are key to PRISA's mission," said Juan Luis Cebrián, CEO of PRISA. "V-me's relationship with public television is a clear example of this unmatched credibility and quality."

"PRISA is a perfect partner for V-me," said Carmen M. DiRienzo, president and CEO of V-me. "PRISA's world-class content and production resources combined with V-me's creative development and distribution present powerful opportunities to develop new programs and channels for domestic and international markets, and to expand and develop brands across PRISA's radio, publishing and broadcast assets."

V-me's original shareholders, including The Baeza Group (led by V-me founding chairman Mario Baeza) will continue to be represented in the board of V-me Media.