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Telemundo Network Group Takes Stake in Espanol.com

Online retailer for Latinos Espaqol.com secured a multi-million dollar strategic investment by Telemundo Network Group LLC.

The partnership gives the Spanish-language broadcaster an equity stake in Espaqol.com, and provides the Latin e-tailer with certain exclusive promotional and programming opportunities on the network.

As Telemundo Network's preferred e-commerce partner, the deal gives Espaqol.com the dominant share of e-commerce advertising on Spanish-language airwaves.

The Telemundo Network claims to reach 85 percent of Hispanic households in the United States, spanning 63 markets.

"Telemundo embraces opportunities created by the record number of Latinos turning to the Internet for information, entertainment and commerce," said Alan Sokol, chief operating officer of the Telemundo Network.

"The strategic alliance with Espaqol.com to our growing portfolio of Internet investments enables us to deliver the most desirable products and services to our audience in an authentic Latino environment."

Telemundo is the second media company to take stake in Espaqol.com. Grupo Ferri Rangel, publishers of Puerto Rico's largest daily El Nuevo Dma, participated in the first round of financing.