Jan 31, 2022 - Economy

Univision completes merger with Mexican media giant Televisa

Sara Fischer

Univision on Monday said it completed its merger with Televisa’s media content and production assets, forming a new Spanish-language media behemoth called TelevisaUnivision Inc.

Why it matters: The merger creates one of the biggest Spanish-language media companies in the world. The scale of the combined company will help Univision compete with NBCUniversal's Spanish-language network Telemundo.

Details: The newly-combined company will launch a new streaming service for Spanish-speaking audiences in 2022, with both free and premium tiers, per a statement. It's also preparing "a massive pipeline of original content for the upcoming global streaming launch," it said.

Be smart: TelevisaUnivision Inc. received a $1 billion investment led by the SoftBank Latin America Fund to foot the deal. Marcelo Claure, then-CEO of SoftBank Group International, was named vice chair of the new company's board.

SoftBank confirmed Friday that Claure was leaving the company, but TelevisaUnivision confirmed he will still become vice chairman of the company's board.

Go deeper: Mexican media giant Televisa to merge content business with Univision

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Univision completes merger with Mexican media giant Televisa

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