Grupo Televisa, Univision merge programming departments

|About: Grupo Televisa, S.A. (TV)|By:, SA News Editor

Grupo Televisa (TV -0.4%) and Univision (Pending:UVN) have teamed to bring together content development and production into a single operation.

Univision's Isaac Lee will service as chief content officer for both companies, they said in a statement where they highlighted "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."

Other operations at the companies, including News, will remain independent.

"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," says Televisa President Emilio Azcarraga Jean, who will oversee Lee's work for Televisa's part.

Televisa had already supplied more than a third of Univision's programming.

Earlier this month, Televisa got approval from the FCC to raise its stake in Univision to 40% of voting shares.

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