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<\/p>\nMexico-based Grupo Televisa and Univision have closed their $4.8 billion merger, uniting their vast Spanish-language media and production holdings in the U.S. and Mexico.<\/p>\n
The new entity, known as TelevisaUnivision Inc., builds on a previous production alliance created by the companies as they looked to fend off a rising number of rivals aiming at Hispanic viewers in the age of streaming. As of the merger close, the company claims reach to more than 60% of TV audiences in both the U.S. and Mexico. Across television, digital, streaming and audio, the company says its audience is more than 100 million Spanish speakers every day,<\/p>\n
Televisa’s four broadcast channels, 27 pay-TV channels, Videocine movie studio, Blim TV subscription video-on-demand service will be combined with Univision assets in the U.S. along with the Televisa trademark. On the Univision side are the Univision and UniMás broadcast networks, nine Spanish-language cable networks, 59 TV stations and 57 radio stations in major U.S. Hispanic markets, plus the PrendeTV AVOD platform.<\/p>\n
The company in February will announce details of a two-tiered streaming service, which will include bulked up programming offered partly for a monthly subscription fee. A basic, ad-supported tier is expected to remain available for free.<\/p>\n
Univision, which had been taken private back in 2007 in a $12.3 billion buyout, fetched significantly less when it hit the market again a decade later. A number of potential suitors looked at the books when the company was again available. A consortium of investors led by former Viacom CFO Wade Davis emerged as the winning bidders for a 64% stake. Davis then announced the teaming last year with Televisa (which retains its holdings in telecom and other sectors in a separate entity based in Mexico).<\/p>\n
“The close of our transaction marks a historic moment for our company and our industry,” Davis said in a press release. “We are combining two iconic and market-leading companies that have a rich, shared history and an incredible portfolio of assets. This combination will create a business without comparison in the global media landscape.”<\/p>\n
Alfonso de Angoitia, executive chairman of the TelevisaUnivision board of directors, said the merger creates a “a company with tremendous potential. With our attractive financial profile and history of innovation, TelevisaUnivision is ready to revolutionize the industry by delivering the most comprehensive Spanish-language content offering to audiences around the world.”<\/p>\n
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