Fusion TV, a far-left TV outlet for English-speaking Hispanics, is bleeding money financially.
Fortune magazine reports that Fusion, which is owned by Disney and Univision, lost over $64 million from 2012-2014. Univision lost $17.8 million of its share on Fusion's net losses and Disney no longer wants to be a part of Fusion.
"To be sure, losses and new media companies are often tied at the hip," writes Fortune's Dan Primack. "But such companies usually are privately-held and funded by venture capitalists, which means the results are kept under wraps. Not so for Fusion, particularly with Univision being required to publish financial disclosures as its prepares for its (indefinitely delayed) IPO."
Fusion has been a leftist propaganda machine since it began broadcasting. Here are some examples via Newsbusters:
- Fusion left out the fact that Univsion and Fusion anchor Jorge Ramos called Catholics "gullible."
- Fusion senior editor Felix Salmon called for churches opposed to gay marriage to lose their religious tax exemptions
- CEO Isaac Lee compared those that are against the network's agenda to Nazis.
- Ramos heckled real estate mogul Donald Trump at a press conference.
- Ramos's daughter works for Democratic presidential frontrunner Hillary Clinton.
- Ramos called immigration reform "the new frontier in civil rights."
Apparently Hispanics aren't buying the leftism that Fusion is selling.