You will be redirected back to your article in seconds

Mexico OKs Telemundo investment

Company's 'neutral capital' move allowed by law

The Mexican government has approved NBC U-owned Telemundo’s investment in upstart Mexican media company Palmas 26 .

Foreigners are barred from owning stakes in Mexican media assets, but investments as “neutral capital,” where the foreign company does not technically have a voting stake in the company, is allowed.

In April, Telemundo announced it had teamed up with Saba to found two companies: a production studio, Estudios Mexicanos Telemundo, and Palmas 26, which will explore options for launching a TV channel in Mexico. Grupo Xtra, owned by Mexican billionaire Isaac Saba Raffoul, will put up 51% stake in Palmas 26 with Telemundo providing the rest of the coin.

NBC parent GE’s Mexican subsidiary was shut out last year by the government from taking a stake in the troubled Canal 40.

More Biz

  • Harvey Weinstein ousted

    Weinstein Co. Adds Board Member to Navigate Bankruptcy Sale

    The Mexican government has approved NBC U-owned Telemundo’s investment in upstart Mexican media company Palmas 26 . Foreigners are barred from owning stakes in Mexican media assets, but investments as “neutral capital,” where the foreign company does not technically have a voting stake in the company, is allowed. In April, Telemundo announced it had teamed […]

  • Allison Mack

    'Smallville' Actress Allison Mack Arrested in Sex Cult Case

    The Mexican government has approved NBC U-owned Telemundo’s investment in upstart Mexican media company Palmas 26 . Foreigners are barred from owning stakes in Mexican media assets, but investments as “neutral capital,” where the foreign company does not technically have a voting stake in the company, is allowed. In April, Telemundo announced it had teamed […]

  • Harvey Weinstein

    Harvey Weinstein Still Seeking His Emails to Combat Sexual Assault Claims

    The Mexican government has approved NBC U-owned Telemundo’s investment in upstart Mexican media company Palmas 26 . Foreigners are barred from owning stakes in Mexican media assets, but investments as “neutral capital,” where the foreign company does not technically have a voting stake in the company, is allowed. In April, Telemundo announced it had teamed […]

  • Ken Ziffren and Claudia EllerVariety Power

    Attorney Ken Ziffren Offers Sobering Take on Film Business at Variety's Power of Law Breakfast

    The Mexican government has approved NBC U-owned Telemundo’s investment in upstart Mexican media company Palmas 26 . Foreigners are barred from owning stakes in Mexican media assets, but investments as “neutral capital,” where the foreign company does not technically have a voting stake in the company, is allowed. In April, Telemundo announced it had teamed […]

  • ynon-kreiz

    Media Exec Ynon Kreiz Named CEO of Mattel

    The Mexican government has approved NBC U-owned Telemundo’s investment in upstart Mexican media company Palmas 26 . Foreigners are barred from owning stakes in Mexican media assets, but investments as “neutral capital,” where the foreign company does not technically have a voting stake in the company, is allowed. In April, Telemundo announced it had teamed […]

  • courtney braun

    Courtney Braun Named Head of Legal Affairs for Endeavor

    The Mexican government has approved NBC U-owned Telemundo’s investment in upstart Mexican media company Palmas 26 . Foreigners are barred from owning stakes in Mexican media assets, but investments as “neutral capital,” where the foreign company does not technically have a voting stake in the company, is allowed. In April, Telemundo announced it had teamed […]

  • Randall Stephenson

    AT&T-Time Warner Trial: Randall Stephenson Takes Stand and Defends Merger

    The Mexican government has approved NBC U-owned Telemundo’s investment in upstart Mexican media company Palmas 26 . Foreigners are barred from owning stakes in Mexican media assets, but investments as “neutral capital,” where the foreign company does not technically have a voting stake in the company, is allowed. In April, Telemundo announced it had teamed […]

More From Our Brands

Access exclusive content