MundoMax Appoints Jose I. Molina to Interim President

MundoMax Appoints Jose I. Molina to Interim President

Network Continues Operating Transition as Independent Entity

LOS ANGELES, March 10, 2016 /PRNewswire/ -- MundoMax, the newly-rebranded U.S.-based Spanish-language broadcast network wholly owned and operated by media conglomerate RCN Television Group, today announced the appointment of Jose I. Molina to Interim President. Mr. Molina, who will also retain the title of Chief Financial Officer, replaces Ibra Morales, who has stepped down as President to pursue other interests.

These executive moves reflect the continued transition underway as the network refocuses its personnel, resources and strategy to pursue the next stage of development and growth. Mr. Morales was instrumental in leading the network from its earlier partnership with Fox to its recent transition into an independent media company fully owned by RCN Television Group. Mr. Molina joined MundoMax as CFO last October and has served as a key advisor in developing the next phase of the network's strategic plan. The moves follow the recent appointment of veteran television sales executive Nicolas J. Valls, as SVP of Advertising Sales, as well as the realignment of the network's advertising sales and support operations.

"Laying the groundwork for the network's promising future over the past two years has been an amazing and rewarding experience," stated Morales. "Backed by the tremendous resources of RCN and a seasoned management team, I believe the network will be in an outstanding position to serve the vibrant and diverse U.S. Hispanic community. As an independent entity, MundoMax is now well on its way to writing the next chapter in its development and expansion. I will forever be grateful for this unique opportunity and look forward to watching as MundoMax fully leverages its assets and seizes the opportunity ahead."

"I am very fortunate to have joined MundoMax at such a pivotal time in the network's young history," said Molina. "Ibra has played a major role contributing to the network's reorganization efforts. Building on his success, I look forward to continuing to work closely with our board, management team and employees as we continue to realign our operations for the next stage of growth. We are taking a very disciplined and strategic approach, supported by our parent company, RCN Television Group, which is committed to leveraging its content resources to build a successful Hispanic media platform in the U.S. Given our unique resources and programming focus, I believe we have a very attractive opportunity to expand our presence and build audience and advertising share over time."

Prior to joining MundoMax, Mr. Molina served for 14 years at Spanish Broadcasting System, most recently as Vice President of Finance. He played a senior role in the areas of financial planning & analysis, SEC reporting, M&A strategy, and financing. Previously, he worked at KPMG LLP, specializing in the media industry. A graduate of the University of Florida, he also holds an M.A. in Accounting.

About MundoMax

MundoMax is the U.S.-based Spanish-language broadcast television network 100% owned and operated by RCN Television Group, the media conglomerate that owns broadcast and cable channels serving U.S. Hispanic and Latin American audiences. RCN has a long track record of developing highly-acclaimed series, telenovelas, and formats that have been broadcast and adapted all over the world. MundoMax is broadcast over-the-air on the network's affiliate stations, as well as through cable, satellite, and telco providers in markets representing nearly 80% of U.S. Hispanic households. Launched in fall 2012, MundoMax is headquartered in Los Angeles, CA.

About RCN Television Group

RCN Television Group belongs to the Organizacion Ardila Lulle (OAL), one of the most prominent industrial conglomerates in Latin America. RCN currently licenses its content in over 120 countries worldwide, including some of the biggest Spanish-language hits of recent years in the U.S., such as productions of "El Capo", "Cafe Con Aroma de Mujer", "Yo soy Betty la Fea" and "Pura Sangre", and format rights for "Destilando Amor", "Manana Es Para Siempre", "Hasta Que El Dinero Nos Separe" and "La Fea Mas Bella" ("Ugly Betty"). RCN also operates and programs four cable networks in Latin America and the U.S. focused on entertainment (Nuestra Tele, RCN Novelas), news (NTN24) and sports (WIN Sport).

SOURCE MundoMax

MundoMax

CONTACT: Kristen Mutarelli, Mutarelli@braincomm.com, 212-986-6667


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