MediaCo


MediaCo is an American media company with offices based in Burbank, California and New York City, owned by private equity firms HPS Investment Partners, LLC and Standard General. MediaCo caters to the African-American and the Spanish-speaking Hispanic communities. The company owns television and radio stations in several of the top multicultural markets, and is the parent company of the Estrella TV network.
Prior to the Estrella Media acquisition, MediaCo Holding Inc. originally formed in Indiana in 2019 on the heels of Emmis Communications selling WBLS and WQHT.

History

Beginnings as Liberman Broadcasting

José Liberman, and his son Lenard founded the company in 1987, as Liberman Broadcasting, Inc.. Between them, they had more than 55 years of operating experience in the broadcasting industry. The father/son pair co-founded radio and television clusters in Los Angeles and Houston, and in the late 1990s to early 2000s, expanded their assets to include broadcast properties in Dallas and San Diego. Although their television stations were considered part of the Liberman Television Network, they were still classified as independent stations and by 2006, the company had adopted a consistent branding for its three television stations under the brand "Estrella TV", mirroring the television system model in the Canadian television industry. Liberman expanded the Estrella TV format to other markets where it acquired television stations, featuring much of the same programs as those aired by the Los Angeles, Dallas and Houston outlets.
In 1999, Liberman formed a production division within its LBI Media unit to produce original programming content that would be distributed to the stations, focusing on a mix of variety series, sketch comedy, scripted drama and music programs, talk shows and game shows. One of its earliest programs, the reality game show Gana la Verde, caused controversy after several immigrant advocacy groups and California U.S. House Reps. Xavier Becerra, Hilda Solis and Linda Sánchez complained that the format – which debuted in July 2004, and featured illegal immigrants competing in extreme Fear Factor-style competitions for the opportunity to win one year of legal assistance from an immigration attorney to help them obtain a green card – put its participants in danger of deportation by immigration authorities aware of the show.

Growth and Expansion

On August 4, 2006, Liberman Broadcasting reached an agreement with Entravision Communications to buy the company's five Dallas-area radio stations. On May 30, 2007, Liberman Broadcasting announced that it would expand into Utah through its purchase of KPNZ in Salt Lake City from Utah Communications, LLC for $10 million ; then on July 19, 2007, Liberman bought KWIE in the Los Angeles suburb of Riverside, California from Magic Broadcasting for $25 million. On August 18, 2008, the company purchased low-power station KVPA-LP in Phoenix, Arizona from Latin America Broadcasting, Inc. for $1.25 million.

Launch of Estrella TV

On January 27, 2009, at the National Association of Television Program Executives Convention in Las Vegas, Liberman Broadcasting announced that it would turn the Estrella TV concept into a full-fledged national network that would launch at a then-yet-determined date later that year, which would be targeted at adults between the ages of 18 and 49 years old. Liberman had explored the possibility of developing a national network in 2007, when it raised $200 million in capital to acquire additional television stations and expand programming production. The network was originally scheduled to launch on July 1, though its debut was subsequently delayed to September 14, 2009.
On February 3, 2010, LeSea Broadcasting announced the sale of KWHD to Liberman for $5.75 million; the station became an Estrella TV owned-and-operated station following completion of the sale, under the callsign KETD, on June 1. On February 22, 2010, Liberman Broadcasting acquired W40BY Chicago from Trinity Broadcasting Network, intending to convert it to serve as the Estrella TV O&O for the market. The sale was closed on December 6. On January 23, 2012, Liberman Broadcasting announced the sale of KNTE-FM in the Houston suburb of El Campo, Texas to the KSBJ Educational Foundation for $2.1 million; the sale was completed that April. Subsequently, on May 2, Liberman pared back its Houston-area radio cluster further with the sale of KJOJ in Conroe to Aleluya Christian Broadcasting for $1 million. On February 11, 2013, Liberman Broadcasting announced the sale of Spanish CHR KTCY in the Dallas–Fort Worth suburb of Azle, Texas to the Educational Media Foundation for $6 million.
In September 2016, Liberman Broadcasting was involved in two sexual harassment lawsuits filed with the Los Angeles Superior Court involving two female newscasters. In the initial suit, former Estrella TV anchor/correspondent Adriana Ruggiero claimed sexual harassment, wrongful termination and breach of contract, accusing the network's Vice President of News at the time, Andres Angulo, informed her that Lenard Liberman was unconvinced about promoting Ruggiero—who was appointed as main anchor of the early-evening Noticiero Estrella TV newscast in 2015—to permanently replace the then-recently deceased Enrique Gratas as anchor of the prime time news program Cierre de Edicion because she did not look attractive enough, had asked her to showcase her cleavage more on-air, had repeatedly harassed another female employee, and threatened to replace her with fellow anchor Adriana Yañez if Ruggiero insisted on receiving a bonus stipulated in her contract. In retaliation for pursuing the bonus, Ruggiero claimed she was excluded from Cierre de Edicion editorial meetings and "intentionally caused members of the news team to lose respect" for her opinions and abilities.
A separate suit filed on June 23 by Karla Amezola—then anchor at Los Angeles flagship KRCA-TV—cited a history of "shameless and disgusting acts" of harassment by Angulo that "continued to escalate in levels of depravity", stating that he bragged about his sexual experiences and showed her nude photographs of female co-workers he had slept with to Amezola and other Estrella/KRCA colleagues, had propositioned her for sex numerous times, had kissed her against her will and allegedly stroked his erect penis while asking her to "turn around" to peer at her buttocks while in Angulo's office. Amezola also claimed Angulo threatened her in 2015 against taking any legal action and warned her that human resources would not believe her allegations. After filing a complaint to Estrella/KRCA human resources, Angulo and Estrella TV management retaliated against employees who "contributed damaging information," removing her as 5:00 p.m. anchor at KRCA without cause and undertaking measures against employees who came forward as witnesses to Amezola's claims.

Reorganization and Rebrand as Estrella Media

On November 21, 2018, Liberman Broadcasting filed for Chapter 11 bankruptcy protection with the United States Bankruptcy Court for the District of Delaware. The company—which claimed assets worth between $100 million and $500 million and liabilities worth between $500 million and $1 billion—sought to reduce its overall debt by more than $350 million and secured $38 million in debtor-in-possession financing. On April 17, 2019, Liberman obtained approval of its reorganization plan from the Delaware bankruptcy court, with the expectation that it would be able to clear its balance sheet within the following several months. As a result, Estrella TV suspended production of the talk show Noches con Platanito and cancelled its two morning news programs Primera Edición and Buenos Dias Familia. On October 15, 2019, Liberman Broadcasting completed its reorganization plan, turning over ownership of the company—which was formally renamed LBI Media, Inc.—to its first lien lender, private equity firm HPS Investment Partners, LLC, which sponsored the reorganization plan; the reorganization eliminated more than $350 million of debt from its balance sheet. As part of the corporate reorganization, co-founder/CEO Lenard Liberman divested his equity in LBI, and was replaced as the company's CEO by former Granite Broadcasting and Communications Corporation of America Chairman Peter Markham. On February 3, 2020, LBI Media rebranded as Estrella Media, borrowing its name from flagship Spanish-language network Estrella TV. On April 18, 2024, MediaCo Holding, announced that it had acquired all of the company's content assets. Estrella Media kept the stations as a result.

Merger into MediaCo

On April 17, 2024, MediaCo entered into an asset purchase agreement with Estrella Broadcasting, Inc., and SLF LBI Aggregator, LLC, and affiliate of HPS Investment Partners, LLC, pursuant to which Purchaser purchased substantially all of the assets of Estrella and its subsidiaries (other than certain broadcast assets owned by Estrella and its subsidiaries, and assumed substantially all of the liabilities of Estrella and its subsidiaries.
As reported in the 2023 10K, Standard General is the largest shareholder in MediaCo Holding, Inc.

Possible acquisition of Warner Bros. Discovery's cable assets by MediaCo's owner

On December 17, 2025, MediaCo's owner, Standard General, is interested to buy or invest in Warner Bros. Discovery's cable assets. If sold, Estrella TV will carry news reports from CNN en Español.

MediaCo-owned stations

Stations are listed alphabetically by state and city of license.

Television / Radio Stations

Media marketStateStationBranding
Los AngelesCaliforniaKBUAQué Buena 94.3 FM
Los AngelesCaliforniaKBUEQué Buena 94.3 FM
Los AngelesCaliforniaKEBNQué Buena 94.3 FM
Los AngelesCaliforniaKRCAEstrella TV
Los AngelesCaliforniaKVNRLittle Saigon Radio 1480AM
RiversideCaliforniaKRQBQué Buena 96.1 FM
DenverColoradoKETDEstrella TV
Miami–Fort LauderdaleFloridaWGEN-TVEstrella TV
ChicagoIllinoisWESV-LDEstrella TV
New York CityNew YorkWASA-LDEstrella TV
New York CityNew YorkWMBC-TVEstrella TV
New York CityNew YorkWQHTHot 97
New York CityNew YorkWBLSWBLS 107.5 FM
Beaumont–Port ArthurTexasKQQKEl Norte 107.9 FM
Beaumont–Port ArthurTexasKTJMLa Raza 98.5 FM
Dallas–Fort WorthTexasKNORLa Raza 93.7 FM
Dallas–Fort WorthTexasKBOCLuna 98.3 FM
Dallas–Fort WorthTexasKZZALa Ranchera 106.7 FM
HoustonTexasKNTELa Raza 101.7 FM
HoustonTexasKZJLEstrella TV
-Texas--