Televisa, Globomedia in Production Venture

MADRID: Mexican media giant Grupo Televisa is partnering with the Imagina Media Audiovisual-owned Spanish outfit Globomedia to form a production company.

The joint venture will develop content for the Spanish and international markets. Its creation follows the transaction earlier this year that saw Televisa exchanging its stake in LaSexta for a 14.5-percent interest in Imagina.

The venture will adapt properties from the Televisa library as well develop new ones. The new venture will also have access to the Sony Pictures Television scripted formats library, following Televisa’s first-look deal with the company.

Globomedia is one of Spain’s most well-regarded production outfits, with credits that include Aguila Roja, El barco, Aída and Luna. Daniel Ecija, the president of Globomedia, said the deal was an important part of the company’s international expansion strategy.

José Bastón, the president of TV and content at Televisa, noted that the Globomedia venture was key to strengthening the Mexican company’s positioning in Spain and Europe as a whole.