MEXICO CITY: In a deal to share program content in Mexico, Spanish-language TV rivals Telemundo of the US and local giant Grupo Televisa, have laid the foundations for an alliance targeting the already massive and fast-growing stateside Hispanic market.
In a deal, announced Monday, no-one mentioned anything as vulgar as money. But General Electric-owned Telemundo will air its entertainment programming on a Televisa station in Mexico, while the latter reciprocates by carrying a new Telemundo channel on its Mexican cable and satellite networks.
The deal also has significant mid-term implications.
Televisa has for long eyed the El Dorado of the US Hispanic TV market, narrowly failing to acquire stateside Spanish TV network Univision in 2006.
It is also eager to escape from a long-term contract to provide its programming to Univision north of the border.
The alliance with Telemundo brings those ambitions one step nearer to reality. Possibly via a joint takever for Univision?
Data sourced from Wall Street Journal Online; additional content by WARC staff