This could provide a big boost for MiTu -- the Peter Chernin-supported YouTube network company that targets Latinos. Mexico-based Spanish language media giant Televisa has signed what the companies call a "multi-year, multi-platform deal" to "develop innovative content, concepts and formats across various digital platforms." They didn't disclose financial details. Televisa President Jose Antonio Baston says his company "felt it was strategically important to partner with MiTú.” The digital network company's President and co-Founder Beatriz Acevedo says the alliance "marks a new ‘power couple’ in town, as we work together to create compelling new content and break-out Latino stars that will resonate among today’s English and Spanish-speaking millennials.”
The digital networks company has about 43M global subscribers and attracts than 450M monthly views, a fast ramp up for a company launched in 2012 by TV industry vets Acevedo, Doug Greiff, and Roy Burstin. MiTu has also caught the eye of the digital elite: It raised $10M in June in a Series B funding round led by Upfront Ventures, an early investor in Maker Studios which Disney bought this year. The cash will be used to build production facilities in Los Angeles and Mexico City, and support technology and sales efforts. In addition to support from The Chernin Group, its backers include Machinima co-founder Allen DeBevoise, Shari Redstone's venture capital firm Advancit Capital, former CBS Interactive President Quincy Smith's merchant bank Code Advisors, and Ferrer Comunicación's Juan Cristóbal Ferrer.