Telefónica and Atresmedia have joined forces to create Spanish-language fiction content around the world.
The new agreement between the two companies will result in the creation of a venture, 50 percent owned by both groups. The new company will produce original series and films for Movistar+ and Atresmedia, as well as for third-party operators.
In addition, the agreed alliance will boost the Spanish audiovisual sector by promoting co-productions with other companies and producing for third parties.
Telefónica and Atresmedia will add talent and resources to optimise and scale up in their content creation and distribution business.
The agreement is pending approval by Telefónica’s executive committee.
The deal was signed by Silvio González, CEO of Atresmedia, and Emilio Gayo, CEO of Telefónica España.