Univision Holdings and Grupo Televisa are strengthening and expanding their relationship by unifying their respective content development and production efforts. Going forward, both companies will benefit from a single, integrated focus on the Hispanic audience in the United States and the domestic Mexican audience, as well as from potential cost synergies. As part of the initiative, Isaac Lee, who currently serves as the Chief News, Entertainment & Digital Officer for Univision and Chief Executive Officer for Fusion, will become Chief Content Officer of both Univision and Televisa.
News and all other operations of both companies will remain independent, and the current terms and conditions of the existing programming license agreement between Univision and Televisa are unchanged.
By creating a single content-production silo for distribution on multiple platforms in Mexico and the U.S., Televisa and Univision are looking to compete more effectively in an increasingly complex and fragmented industry. The new structure is expected to enhance their ability to serve a combined audience of approximately 175M viewers who have an aggregate purchasing power of close to $2 trillion.
In his respective role at each company, Lee will continue to directly report to Randy Falco, President and CEO of Univision and will also now report to Emilio Azcárraga Jean, President of Televisa.
The exec has been leading journalistic teams for nearly 20 years at prominent publications serving Spanish-speaking audiences in the U.S. and Latin America. He joined Univision in December 2010 as President of News, and most recently held the position of Chief News, Entertainment & Digital Officer where he spearheaded the company’s digital expansion and the creation of the Fusion Media Group, including the acquisition of the Gizmodo Media Group, and a strategic investment in The Onion Inc.
Televisa has also announced that José Bastón Patiño will assume the role of President of Televisa International, responsible for the expansion outside the U.S. and Mexico, and will remain a member of the board of directors of Televisa.