Magnolia Networks is the third major player in the sports and entertainment world to make its debut in the United States.
The network announced today that it has signed a multi-year deal to acquire the rights to the popular weekly magazine magnolia, a brand that has long been a fixture of the local scene and the home of the world’s biggest sports stars.
Magnolia Network will continue to offer local content in its sports section and in a growing number of markets across the United Kingdom, and the company says it will also expand into other markets and markets in other countries, including Mexico and Latin America.
“The news is a huge deal for Magnolia and our partners, including the brands of the U.K. and U.S. Magnolia networks,” Magnolia President and CEO Chris Lees told TalkSport in a statement.
“We look forward to expanding our relationships in the future.”
The deal is expected to close in the second half of 2018.
In a statement, Magnolia said the deal with MagnoliNet will enable it to continue to produce its best-in-class sports content in English and Spanish for all markets in which Magnolia operates.
Magnoli Networks is owned by the European company Alfa, which also owns and operates the global sports network Mundo Deportivo, which is one of the biggest soccer and tennis TV stations in the world.
Magnoli Networks’ most recent sports coverage comes from the Mundo de Mexico Network.
The company has also produced the daily newspaper El Nuevo Mundo in Mexico.