You will be redirected back to your article in seconds

Telemundo revamps

Network, holding company to combine

MIAMI — U.S. Spanish-lingo net Telemundo Network and affiliated station group Telemundo Holdings are merging their interests in an ownership and operational restructuring.

Subject to Federal Communications Commission approvals, the merged companies will form Telemundo Communications Group, which will then appoint James McNamara, now prexy-CEO of the network, to its top post.

Move will more effectively align the operations of affiliate and owned and operated affiliate stations with that of the network, Telemundo said in a statement.

Telemundo Network is equally owned by Sony Pictures Entertainment and Liberty Media, which led the consortium that acquired the No. 2 U.S. Spanish-lingo net in 1998 for roughly $539 million.

Station holding pattern

Those two partners also own about 49% in Telemundo Holdings. The rest is held by Station Partners, an investment partnership formed by Bastion Capital and the Apollo Investment Fund.

Apollo is divesting its interest in Station. Its stake will be purchased by Longmont, Colo.-based Council Tree Communications. Council Tree separately will contribute its Telemundo affil KMAS, which serves Denver and outlying Colorado cities Colorado Springs and Pueblo, to the new Telemundo company.

Once that sale and the merger are completed, Telemundo Communications’ equity will be divided among Sony, with 17.4%; Liberty, 43.5%; Station Partners, 32.9%; and BB Capital, a subsid of Bastion, with 6.2%, a spokesman told Daily Variety.

Voting rights, the details of which were not provided, are consistent with those under the two-company structure, according to McNamara.

Gaining ground

Under his leadership, the Telemundo Network has seen its ratings recover steadily, and its share of the ad pie is improving. It recorded an 86% increase in upfront ad sales to $175 million for the 2000-01 season, up from just $94 million a year ago.

Rival net Univision Communications, which reaches a larger percentage of the U.S. Hispanic population, announced upfront sales of $501 million, up 18% from a year ago.

More Biz

  • Streaming Powers U.S. Latin Music Market

    Streaming Powers U.S. Latin Music Market to 18% Growth

    The U.S. Latin music business experienced its second year of double-digit growth in 2018, driven almost entirely by streaming, according to the RIAA’s year-end report. The Latin market grew 18% in 2018 to $413 million, driven by a nearly 50% growth in revenues from paid subscriptions, the report says. Streaming formats made up a whopping [...]

  • Game Industry Layoffs Driven by Past

    Game Industry Layoffs Driven by Past Mistakes, Uncertain Future (Analysts)

    The video game industry is facing a seemingly never-ending string of layoffs and studio closures: Telltale, ArenaNet, Activision, and now EA. According to industry analysts, companies are facing declining earnings, diminishing product pipelines, and an uncertain future that is almost certain to be driven by new technology. While the debate over whether games as art [...]

  • NF_D_JGN-D14-5180.raf

    The Sexist Metal Scene in 'The Dirt' Is Painfully Accurate, Say Veteran Female Execs

    UPDATED: The fallout from Friday’s premiere of Netflix’s few-holds-barred Motley Crue biopic, “The Dirt,” began even before the film, which focuses on the quartet’s ‘80s-‘90s decade of decadence, was released. The group’s ill treatment of many women in their orbit is a matter of public record, and is depicted both seriously and unsettlingly light-heartedly in [...]

  • univision-dish blackout

    Univision, Dish Network Reach Carriage Deal After Nine-Month Blackout

    Univision and satcaster Dish Network have reached a carriage agreement after a nine-month blackout that marked one of the longest standoffs between a major programmer and distributor. Univision channels went dark on Dish Network’s satellite and streaming platforms on June 30. The sides were at odds over carriage fees that have become increasingly contentious for [...]

  • BMG Posts Strong Earnings for 2018

    BMG Posts Strong Earnings for 2018

    BMG announced solid earnings for 2018 — its tenth year since the “new” BMG opened for business after its previous incarnation merged with Sony Music — as part of parent company Bertlesmann’s results Tuesday. According to the announcement, despite “negative exchange rate effects,” BMG’s revenues increased by 7.5 percent to €545 million (around $644 million), [...]

  • Rahm Emanuel

    Chicago Mayor Rahm Emanuel Calls Jussie Smollett Deal a 'Whitewash of Justice'

    Chicago Mayor Rahm Emanuel blasted the decision by Cook County prosecutors to drop charges Tuesday against “Empire” actor Jussie Smollett. Flanked by Chicago Police Superintendent Eddie Johnson and Kevin Graham, the president of the Chicago police union, the mayor said the decision sends a message that high-profile people will not be held accountable for their [...]

  • Viacom HQ LA

    Viacom Shares Spike on DirecTV Deal, Renewed CBS Merger Chatter

    Viacom shares soared 10% on Tuesday after the company reaffirmed financial guidance for its media networks wing on the heels of sealing a hard-fought carriage renewal agreement with AT&T’s DirecTV. The stock gain underscored the importance of maintaining its presence on DirecTV and other AT&T channel bundles. Viacom on Tuesday reaffirmed its guidance of affiliate [...]

More From Our Brands

Access exclusive content