Si TV Raises $24 Million in Financing

Funds come from debt and equity financing

Sí TV has raised $24 million in financing, the Latino media company announced on Monday.

The funds come as a combination of equity and debt transactions, with much of the money raised from the network’s investor group.

Michael Schwimmer, Sí TV’s chief executive officer, said the fund will enable the network to develop and acquire new programming.

Launched in 2004, Sí TV caters to 18–34-year-old Latinos with English-language, bi-culturally themed programming on television, the internet, video-on-demand and wireless devices.

Among the network’s original programming is Latina modeling competition series "Model Latina," pop culture comedy show "Latino 101" and online reality series "Elle & Tito: The Married Life."

News of the fundraising drive comes on the heels of a May announcement that Javier Saralegui, former president and chief operating officer of Univision Online and president of Galavisión, has joined the Sí TV board.