There’s a new Spanish-language TV juggernaut, and its name is TelevisaUnivision.
Univision and the Mexican TV giant Televisa completed their $4.8 billion merger on Monday, creating the newly-formed company, which brings together Televisa’s media content and production assets with Univision’s assets, which will include dozens of cable channels, multiple broadcast networks, and a vast array of Spanish-language content.
The goal is to launch a global Spanish-language streaming service this year, which will be formally unveiled next month. Details remain somewhat sparse, though the company says it will have a free and a premium tier. The company adds that the service “will have the largest offering of original Spanish-language content in the U.S. and Latin America, including dramas, comedies, docuseries, game shows, reality shows, variety programs, movies, musical and cultural events, children’s and educational programs, sports and special events, as well as trusted news programming.”
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Univision had signed deals with Eugenio Derbez and Selena Gomez in anticipation of the streaming launch, which will also leverage Televisa’s significant library to total more than 300,000 hours of content.
The new company will be led by CEO Wade Davis, with Alfonso de Angoitia serving as executive chair of the board. New investors in the company include the SoftBank Latin America Fund, Google and The Raine Group. Former Softbank COO Marcelo Claure will be vice chairman.
Univision and Televisa announced their merger plans last April, and the goal of launching a global streaming service shortly thereafter. Univision, led by Davis, has refreshed its executive team with media veterans, including former Turner ad sales chief Donna Speciale, and former Telemundo executive Luis Silberwasser.
“We are combining two iconic and 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 themselves, reaching levels of financial performance and audience resonance that has not been seen for 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 company is supported by our new ownership group, which is well positioned to amplify the efforts of one of the best leadership teams in the world.”
