MEXICO CITY—Mexican broadcast and media large Grupo Televisa SA B agreed to mix its tv content material enterprise with Univision Communications Inc., creating a brand new firm that can have SoftBank Group Corp. as an investor, the businesses stated on Tuesday.
The tie-up goals to develop streaming-video providers in Spanish-speaking markets and marks a brand new part in what has been a hot-and-cold partnership through the years between Televisa, the world’s high producer of Spanish-language tv packages, and Univision, the most important U.S. Spanish-language community.
The creation of Televisa-Univision, as the brand new firm might be known as, comes as broadcasters and cable TV corporations wrestle with rising competitors from streaming providers with giant budgets for formidable manufacturing of movies and sequence, as viewers get extra of their audio, motion pictures and video programming immediately over the web.
To spice up its war-chest, the brand new Televisa-Univision, will get a $1 billion fairness funding by a consortium led by SoftBank Group by way of the SoftBank Latin America Fund and which incorporates the participation of Google Inc. and The Raine Group.
Televisa will obtain $3 billion in money for its property, plus $1.45 billion in Univision fairness. That might be financed by Univision taking up $2.1 billion in debt.