Univision CEO closes Televisa deal, promises new streaming push
The longtime partners, based in Miami and Mexico City, plan to finally tie the knot. Google and SoftBank Latin America Fund will become investors.
Davis said the new streaming service will have a free and paid tier, with entertainment, sports and news. Behind the paywall will be first-run movies and “an enormous volume of soccer,” he said. Univision will announce a new brand name for the streaming service and details about programming in mid-February.
Meanwhile, investors have become wary about the future of streaming after Netflix Inc. said this month that its subscriber growth wasBut Davis said Univision, which is closely held, has two advantages. With Televisa’s assets, Univision owns a large library of Spanish-language programming and more of its own outlets to promote its streaming service.
Although Disney aims to break even on its Disney+ streaming service in 2024, or about five years after its launch, Univision’s service “will be profitable in a small fraction of the time frame,” he said.in February 2020 to buy a majority stake in Univision. Since closing that deal, Davis has hired more than 500 people and made changes to the board and management team.
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