MEXICO CITY and NEW YORK, Jan. 17,
2017 /PRNewswire/ -- Grupo Televisa, S.A.B. ("Televisa";
NYSE:TV; BMV: TLEVISA CPO) and Univision Holdings, Inc.
("Univision") today announced a strengthened and expanded
relationship between the two companies by unifying both of their
content development and production efforts.
Both companies will benefit from a single, integrated focus on
the Hispanic audience in the United
States and the domestic Mexican audience, as well as from
potential cost synergies from aligned content initiatives.
The News and all other operations of both companies will remain
independent, and the current terms and conditions of the existing
programming license agreement between Televisa and Univision remain
unchanged.
As part of this initiative, Isaac
Lee, who currently serves as the Chief News, Entertainment
& Digital Officer for Univision and Chief Executive Officer for
Fusion, will assume the role of Chief Content Officer of both
Televisa and Univision, effective immediately. His new role unifies
the leadership and strategic direction of the production of content
for consumers in the United States
and Mexico.
The new structure will enhance Televisa's and Univision's
ability to serve a combined audience of approximately 175 million
viewers in the United States and
Mexico, with an aggregate
purchasing power of close to $2 trillion
dollars. This announcement reflects both companies'
continued commitment to serve the growing U.S. Latino community,
while enabling them to compete more effectively in their respective
markets in an environment where the viewing habits of consumers are
evolving rapidly and where competition is increasing, both from new
content offerings and from traditional and emerging platforms.
In his respective role at each company, Lee will continue to
directly report to Randy Falco,
President and CEO of Univision and will also now report to Emilio
Azcárraga Jean, President of Televisa.
Azcárraga said: "By unifying our production of content for
distribution on multiple platforms in Mexico and the
United States, we will take advantage of the unique
opportunity that Televisa and Univision have to compete more
effectively in an increasingly complex and fragmented industry. I
welcome Isaac, whom I trust will maximize the value and success of
our content, which we have been producing for over 60 years."
Falco added: "I look at Isaac Lee
as the ideal leader of our joint content efforts. With his creative
mind and keen understanding of the rapidly changing tastes of young
audiences, Univision and Televisa are best positioned to continue
to evolve our aligned content offerings."
Lee has been leading journalistic teams for nearly 20 years at
prominent publications serving Spanish-speaking audiences in the
U.S. and Latin America and is
widely recognized for his creativity, innovation and commitment to
excellence. He joined Univision in December
2010 as President of News, and most recently held the
position of Chief News, Entertainment & Digital Officer where
he spearheaded the Company's digital expansion and the creation of
the Fusion Media Group, with the acquisition of The Root and the
strategic investments in Fusion and The Onion Inc.
In addition, Televisa announced that José Bastón Patiño will
assume the role of President of Televisa International, reporting
directly to Azcárraga. Bastón will be responsible for the expansion
of Televisa beyond Mexico and
the United States, and will remain
a member of the board of directors of Televisa.
"Pepe will lead the initiative to expand our content franchise
globally. We already reach over 70 countries around the world, but
there is an opportunity to strengthen our presence in many markets
and improve our prospects internationally." Azcárraga said. "I am
sure Pepe will have great success in this important endeavor."
About Televisa
Televisa is a leading media company in the Spanish-speaking
world, an important cable operator in Mexico and an operator of a leading
direct-to-home satellite pay television system in Mexico. Televisa distributes the content it
produces through several broadcast channels in Mexico and in over 50 countries through 26
pay-tv brands, and television networks, cable operators and
over-the-top or "OTT" services. In the
United States, Televisa's audiovisual content is distributed
through Univision Communications Inc. ("Univision") the leading
media company serving the Hispanic market. Univision broadcasts
Televisa's audiovisual content through multiple platforms in
exchange for a royalty payment. In addition, Televisa has equity
and warrants which upon their exercise would represent
approximately 36% on a fully-diluted, as-converted basis of the
equity capital in Univision Holdings Inc., the controlling company
of Univision. Televisa's cable business offers integrated services,
including video, high-speed data and voice services to residential
and commercial customers as well as managed services to domestic
and international carriers through five cable Multiple System
Operators in Mexico. Televisa owns
a majority interest in Sky, a leading direct-to-home satellite pay
television system in Mexico,
operating also in the Dominican
Republic and Central
America. Televisa also has interests in magazine publishing
and distribution, radio production and broadcasting, professional
sports and live entertainment, feature-film production and
distribution, and gaming.
About Univision Communications Inc.
Univision Communications Inc. (UCI) is the leading media company serving
Hispanic America. The Company, a leading content creator in the
U.S., includes Univision Network, one of the leading networks in
the U.S. regardless of language and the most-watched
Spanish-language broadcast television network in the country
available in approximately 93% of U.S. Hispanic television
households; UniMás, a leading Spanish-language broadcast television
network available in approximately 87% of U.S. Hispanic television
households; Univision Cable Networks, including Galavisión, the
most-watched U.S. Spanish-language entertainment cable network, as
well as UDN (Univision Deportes Network), the most-watched U.S.
Spanish-language sports cable network, Univision tlnovelas, a
24-hour Spanish-language cable network dedicated to telenovelas,
Fusion, a 24-hour English-language news and lifestyle TV and
digital network, ForoTV, a 24-hour Spanish-language cable network
dedicated to international news, and an additional suite of cable
offerings - De Película, De Película Clásico, Bandamax, Ritmoson
and Telehit; Univision Television Group, which owns 59 television
stations in major U.S. Hispanic markets and Puerto Rico; digital properties consisting of
online and mobile websites and apps,
including Univision.com, the most visited
Spanish-language website among U.S. Hispanics, Univision Now, a
direct to consumer video service, Uforia, a music application
featuring multimedia music content, The Root, the leading online
news, opinion, and culture destination for African-Americans and a
stake in The Onion, the nation's leading comedy and news satire
brand; and Univision Radio, the leading Spanish-language radio
group in the U.S. which owns and operates 67 radio stations
including stations in 16 of the top 25 U.S. Hispanic markets and
Puerto Rico. UCI's assets also include a minority stake in
El Rey Network, a 24-hour English-language general entertainment
cable network. Headquartered in New York
City, UCI has television
network operations in Miami and
television and radio stations and sales offices in major cities
throughout the United States.
For more information, please
visit corporate.univision.com.
For Grupo
Televisa
Investor
Relations
Carlos
Madrazo
(52 55) 5261
2445
Media
Relations
Alejandro
Olmos
(52 55) 4438
1205
|
Univision Holdings, Inc.
Investor Relations
Rainey Mancini
646-560-4973
Adam Shippee 646-560-4992
Media Relations
Rosemary Mercedes 212-455-5335
|
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SOURCE Grupo Televisa, S.A.B.