NBCUniversal Telemundo Enterprises Buys Underground Producciones

NBCUniversal Telemundo Enterprises has acquired the Argentina-based boutique producer Underground Producciones, led by Sebastian Ortega.

The wholly-owned subsidiary will become an extension of the Telemundo Global Studios, bolstering its growth and premium-content production capabilities for prime time and digital platforms.

Ortega launched his career in 2001 at Argentinean broadcaster Telefe and was later in charge of artistic direction at Ideas del Sur. He founded Underground Producciones in 2005, and the company produced such hits as Educando a Nina, Graduados, Historia de un Clan, Lalola, El Marginal and the box-office success El Ángel de Luis Ortega, a co-production with Pedro Almodóvar’s El Deseo, Telefe and K&S Films.

“Acquiring Underground Producciones is a strategic investment to help us meet the growing demand for high-quality, cutting-edge Spanish-language content in the U.S. and around the world,” said Marcos Santana, president of Telemundo Global Studios. “It’s an honor and a privilege to have the opportunity to incorporate talent like Sebastian Ortega, who has led one of the most creative teams in the region and has been able to set the standard at a global level with extremely original ideas, into Telemundo Global Studios Development Committee. Underground represents a huge competitive advantage for Telemundo Global Studios, as we continue to develop and produce the best premium content and formats for Hispanics and audiences worldwide.”

“We are thrilled to be joining the NBCUniversal Telemundo family and it’s an exciting milestone for Underground,” said Ortega. “This union represents a new era and a huge leap in artistic evolution for all of us on the team. We look forward to this partnership and we will continue to focus on developing top-notch productions, bringing hard work and passion to everything we do.”