Televisa, Univision to jointly produce Spanish TV content

Finance and Business

MEXICO CITY (AP) — Grupo Televisa, Mexico’s largest television network, announced Tuesday it is joining with U.S. Spanish-language broadcaster Univision to form a third company that will produce content for both that will be the “definitive global leader in Spanish-language media.”

The new company will be known as TelevisaUnivision. Both firms have been struggling to capture a share of the booming over-the-top video services sector.

Televisa said the new company will be in charge of producing shows, distributing and marketing for both Televisa and Univision and also will create a new streaming channel.

“The combined entity will have the content, production capacity, intellectual property, global reach and financial resources to aggressively pursue the relatively nascent global Spanish-language streaming opportunity,” Televisa said in a press statement.

Televisa has four free-to-air channels, 27 pay-TV networks channels and subscription video service. Univision has nine Spanish-language cable networks, 61 television stations and 58 radio stations, and a recently launched streaming service, PrendeTV.

Televisa depicted the nearly 600 million Spanish-language speakers speakers across the world as a relatively untapped market, noting “less than 10% of the Spanish speaking population currently use an OTT video product, compared with the English language market where nearly 70% of the population has at least one streaming service.”

Televisa will be the largest shareholder in TelevisaUnivision, with a 45% equity stake, but Univision CEO Wade Davis will lead the new company.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Trending Stories