By: Gerry Smith
Fusion Media Group, owned by the U.S. broadcaster Univision Holdings Inc., is expanding to Mexico in a deal with Grupo Televisa SAB to launch a 24-hour Spanish-language cable network.
Fusion MX will be run by Televisa and feature local programming that reaches almost 14 million Mexican households and aims at a younger audience, according to a statement Thursday. It will also produce local versions of shows for Fusion’s TV channel in the U.S.
While Univision is best known for its Spanish-language broadcast network, Fusion Media has attempted to reach a younger, more diverse audience. The unit became the home of digital media outlets like Deadspin and Gizmodo last year when parent Univision acquired Gawker Media in a bankruptcy auction. New York-based Univision is owned by Televisa and private equity investors and has been planning to go public.
As part of the deal, Televisa will also start Mexican editions of former Gawker Media websites like the sports-focused Deadspin, the technology outlet Gizmodo, and the women’s website Jezebel.
Source: Bloomberg
