Latina activists and entrepreneurs Jess Morales Rocketto and Stephanie Valencia have raised $80 million to launch a new Hispanic media company called the Latino Media Network.
Why it matters: It's one of the largest capital raises for a Latina-owned and -operated startup in the U.S.
With the capital, the duo has acquired 18 Hispanic radio stations across 10 markets from TelevisaUnivision. The deal, valued at $60 million, is one of the largest single acquisitions of radio stations by a Latino-owned and -operated company.
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