Fuse Media sells majority stake in management buyout

Fuse Media, an English-language media company that serves mostly Latino and multicultural audiences, has sold a majority stake to a Latino-led management group, led by Fuse Media CEO Miguel “Mike” Roggero, alongside several other Fuse executives.

Why it matters: The move speaks to a growing trend of having Latinos control more of the decisions made at American media companies that target that demographic. Univision added four new independent directors to its board last week, all of whom are Hispanic.

The big picture: The company filed for bankruptcy in 2019. Like many specialized cable networks, it's struggled financially amid a changing TV landscape and cord-cutting.

Details: Deal terms have not been disclosed.

• Fuse Media's platforms currently include Fuse, the linear TV channel, Fuse and FM (Fuse Music), Fuse digital OTT channels, apps and websites.
• Roggero has reconfigured and assembled a Board of Directors that includes more Latino business leaders.

Bottom line: “At a time when millions of Americans of all races and ethnicities are calling for more representation and servicing of underserved communities, the Fuse Media management team is taking ownership of its collective destiny,"