After several years of judicial battles, Televisa
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ThE MaStEr
2010-10-07
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Televisa buys stake in Univision
After several years of judicial battles, Televisa will invest USD 1,200 million to acquire the 5% of Univisi?n's capital stock, as well as a capital convertible debt equivalent to an additional 30%. The agreement will enable the Spanish speaking chain located in the United States to exploit the Mexican company's content through Internet, free-to-air channels, Pay-TV and mobile telephones. Moreover, Televisa will increase royalties received from content broadcasting, something that had produced confrontation between both companies in the past.
Therefore, Univisi?n strengthens its financial situation, which had been affected by the worldwide crisis. In turn, Televisa also strengthens its alliances in and out of Mexico, where telecommunications rules are being defined. While Telmex is trying to enter the Pay-TV market with the purpose of consolidating its triple play, Televisa partnered with Nextel with the purpose of offering mobile telephony and moving forward towards a quadruple offer: fixed and mobile telephony, Pay-TV (through its cable operations with Cablevisi?n, Cablem?s, TVI and the DTH Sky) and Internet. Likewise, the dark fiber network, licensed by the Mexican Federal Electricity Commission to Televisa, Megacable and Telef?nica, will be operated.
Televisa may acquire an additional 5% of Univisi?n's capital stock as from the third year of such agreement.
On the other hand, according to a press release, the Programming License Agreement (PLA), executed by both parties, will be extended to 2020 from 2017, and will be "upon the compliance of certain conditions, it may be extended at least until 2025".
Between 2005 and 2006 both companies started a long litigation process. Televisa claimed that Univisi?n had violated the PLA conditions and tried to breach the contract due to the assumed lack of royalties payment and the improper use of content in the Internet and other media. In January 2009, such conflict came to an end.
In 2006, Televisa had tried unsuccessfully to acquire Univisi?n from the entrepreneur Jerrold Perenchio, who finally sold the company to a consortium chaired by Haim Saban. In 2007, Televisa sold Univisi?n stake.
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