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Telemundo Partners With Grupo Xtra to Create Mexican TV Production Company

Apr 5, 2006  •  Post A Comment

NBC Universal’s Spanish-language broadcaster Telemundo said Wednesday that it is partnering with Mexico’s Grupo Xtra to form a television production company there.

Financial terms were not disclosed.

To be called Estudios Mexicanos Telemundo, the production company is expected to produce shows for Mexican audiences as well as other Spanish-speaking markets, including those in the United States.

In addition to the production studio, Telemundo and Grupo Xtra will form a second company called Palmas 26, which will focus on identifying strategic growth opportunities in the Mexican television industry.

Grupo Xtra was founded in 1993 by Isaac Saba Raffoul and is a holding company with interests in tourism, real estate development, finance and textiles.

For Telemundo, the deal is part of an ongoing effort to produce relevant material for its audience, said Telemundo President Don Browne in a statement. He added the venture will bolster Telemundo’s role as an international distributor of Spanish-language television shows, second only to Mexico’s Grupo Televisa.

“It’s important that we expand our productions in Mexico to take advantage of the relevancy that content can deliver to our viewers,” he said. “We also plan to take this Mexican-produced content to the world and reflect the richness and diversity of the Mexican culture.”