The Mexican broadcaster Televisa and the US company Univision announced that they now have all the approvals required to complete a merger, after having been authorized in the United States. The US$4.8 billion deal will combine the content and media assets of both firms, creating “the world’s leading Spanish-language media and content company,” according to Televisa and Univision.
“Grupo Televisa and Univision Holdings (together with its wholly owned subsidiary, Univision Communications Inc.) today announced that US regulatory approvals sought in connection with the proposed merger of Televisa’s media, content and production assets with Univision have been granted. All required regulatory approvals for the transaction have now been received,” Televisa confirmed in a statement.
Regulatory approval in the United States was the only obstacle left for Televisa and Univision to move forward with their merger plan. In Mexico, the Federal Institute of Telecommunications (IFT) authorized the combination of both companies in September of last year, alleging that it did not find anti-competitive effects.
In addition to the huge catalog of programming, one of the strengths of the merger between Televisa and Univision will be the streaming platform that both companies plan to launch, specifically aimed at Spanish-speaking audiences. The OTT service, still without a name, will seek to compete with giants in the segment such as Netflix, Amazon Prime Video or Disney+.