Univision Communications and Grupo Televisa today finalized the deal they announced in October, extending Televisa’s programming licensing agreement and keeping their telenovelas on the U.S. Spanish-language network.
Under the deal, Televisa paid $1.2 billion to take a 35% stake in Univision. The Mexican media giant could also increase its ownership to 40%.
And ownership comes with representation… Televisa CEO Emilio Azcárraga Jean joins the Univision board along with two of his execs: EVP Alfonso de Angoitia, and Enrique f. Senior Hernández, a Televisa board member and managing director of Allen & Company LLC.
José Bastón Patiño, President of Television and Contents and member of the Executive Committee of Grupo Televisa, was named alternate member of Univision’s board of directors.