![]() The new firm will have about 13,000 employees and will continue to rely heavily on its production facilities in Mexico City. ![]() The combined company, which will be based in the U.S., is expected to produce revenue of about $4 billion a year and $1.6 billion in earnings before interest, taxes, depreciation and amortization, De Angoitia said. It was the right moment, and the right people to do it with.” “Univision and Televisa have been partners on and off for decades. This has always been the ultimate goal, and we finally accomplished it,” Televisa co-CEO Alfonso de Angoitia said in an interview. “Combining with Univision has always been a dream for us. Televisa, based in Mexico City, will retain 45% interest in the new entity. However, lacking the rights to its programming became a liability for Univision in the streaming age. The pact provided Univision access to inexpensive shows from Mexico, giving the company little incentive to create its own scripted programming. Univision has long been tethered to Televisa through a long-term programming rights agreement. Miami-based Univision, which has long relied heavily on Televisa’s low-cost telenovelas to fill its prime-time schedule, also faces increased competition from Telemundo, which is owned by NBCUniversal, as well as English-language channels, YouTube and streaming services. The company does have valuable rights to sports and special events and produces news, movies, reality shows, children’s programs and educational programming. ![]() Although the company produced more than 86,000 hours of content last year, its signature telenovelas haven’t connected with young audiences as they did decades ago. In Mexico, Televisa has struggled to adapt to the streaming era and has lost some of its audience to Netflix. The Televisa-Univision combination underscores pressures facing both companies. were relegated to their respective regions, which is kind of breathtaking when you think about the size of the global Spanish-language audience and marketplace.” “Looking at the overall market, there has never been a truly global Spanish-language media company,” Davis said in an interview. The union is designed to position Televisa-Univision as a global force in streaming. The Televisa deal is expected to close later this year. It will be managed by Univision Chief Executive Wade Davis, a former top Viacom executive who put together the investor group that purchased Univision late last year from a consortium of U.S. The new entity, which will be known as Televisa-Univision, will be the world’s largest Spanish-language media company. The historic merger represents a dramatic retrenchment for media scion Emilio Azcárraga Jean, whose family has long been among Mexico’s powerbrokers because of its ownership of Televisa and its vast media holdings. The companies jointly announced the move late Tuesday, formalizing a process that began quietly after Univision came under new ownership late last year. Univision Communications and Grupo Televisa plan to merge their entertainment assets to create a powerful new Spanish-language media company with one foot in the United States and the other in Mexico.
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