TelevisaUnivision created as Spanish-language TV giants merge – The Hollywood Reporter
There’s a new Spanish television juggernaut, and its name is TelevisaUnivision.
Univision and Mexican TV giant Televisa completed their $4.8 billion merger on Monday, creating the newly formed company, which combines Televisa’s content and media production assets with Univision’s assets, which will include dozens of cable channels, several broadcast networks and a vast array of content in Spanish.
The goal is to launch a global Spanish-language streaming service this year, which will be officially unveiled next month. Details remain somewhat sparse, though the company says it will have a free tier and a premium tier. The company adds that the service “will have the largest offering of original content in Spanish in the United States and Latin America, including dramas, comedies, docuseries, game shows, reality shows, programs shows, movies, music and cultural events, children’s and educational programs, sports and special events, as well as reliable news broadcasts.
Univision had signed deals with Eugenio Derbez and Selena Gomez ahead of the streaming launch, which will also leverage Televisa’s massive library to total over 300,000 hours of content.
The new company will be led by CEO Wade Davis, with Alfonso de Angoitia as executive chairman of the board. The company’s new investors include the SoftBank Latin America Fund, Google and The Raine Group. Former Softbank COO Marcelo Claure will serve as vice-chairman.
Univision and Televisa announced their merger plans last April and the goal of launching a global streaming service soon after. Davis-led Univision has refreshed its leadership team with media veterans, including former Turner advertising sales chief Donna Speciale and former Telemundo executive Luis Silberwasser.
“We combine two iconic, market-leading companies that have a rich, shared history and an incredible portfolio of assets,” Davis said in a statement. “This combination will create a business without comparison in the global media landscape. Over the past year, both companies have transformed, achieving levels of financial performance and audience resonance not seen in years. The power and momentum of the transformed core business is truly unique and will be a springboard for the upcoming launch of the preeminent Spanish-language streaming service. The new trajectory of our business is supported by our new ownership group, which is well positioned to amplify the efforts of one of the best management teams in the world.