Mexican TV giant Televisa preps Televisa USA
Michelle Clancy ©RapidTVNews | 03-07-2012
A new Hispanic-focused network, Televisa USA is set to launch, marking the Mexican broadcaster's main push into the English-language market North of the border.
The company is also opening a Los Angeles production hub to bring Latin American telenovelas into the U.S., the Financial Times is reporting.
Executives told FT that Televisa USA will operate as a separate entity from what the company is doing with Univision. Televisa and the top U.S. Latino network signed a $1.2 billion deal to share production and distribution of content until 2025. The deal also gave Televisa a 5% equity stake in Univision.
Paul Presburger will head up Televisa USA while continuing as CEO of Televisa-Lionsgate joint venture Pantelion Films. Pantelion will adapt Televisa's telenovelas into English for the new network. Devious Maids and Hollywood Heights are two of these.