TelevisaUnivision reached a deal with Hemisphere Media Group to acquire Pantaya, a U.S. streaming platform for Spanish-language movies and TV series, snapping up the rival streamer to bolster the ViX service.

The companies didn’t disclose a value for the Pantaya deal. Last year, Hemisphere Media bought out the remaining 75 stake of Pantaya it didn’t own from Lionsgate for about 124 million in cash; Pantaya was launched in 2017 as a joint venture of Lionsgate and Hemisphere.

The pact will add Pantaya’s content, subscribers and management team to TelevisaUnivision’s own subscription-streaming platform, ViX+, which is expected to launch in the second half of 2022. In April, TelevisaUnivision launched ad-supported VOD service ViX, which combined Univision’s PrendeTV and Televisa’s Blim TV.

The deal for Pantaya comprises cash and includes the transfer of some of TelevisaUnivision’s Puerto Rican radio stations, including Wkaq-am and KQ105-fm, to Hemisphere (which...