Telemundo Communications Group and Radio Television Interamericana S.A. have created a new production entity in Colombia that will export TV content to the U.S. and around the globe.
The new venture, Producciones RTI S.A.S., will be 40% owned by Telemundo and 60% by RTI shareholders. Other financial terms were not disclosed.
Telemundo has had a long-running relationship with RTI in Colombia, where the production company has produced exclusive content for NBC Universal Spanish-language broadcast property in the U.S.
The new deal now gives Telemundo -- which looks to differentiate itself from Univision with product that is created for U.S. Hispanics -- an equity position in the new firm that will become part of the Telemundo Studios' production system. The venture is charged with increasing content output by incorporating additional capacity and new production lines.
Beginning with Amantes del Desierto, RTI has delivered over 300 hours of content annually to Telemundo, fare encompassing some 20 novelas and installments of the network's Decisiones series.
Other RTI productions include: Pasion de Gavilanes, El Cuerpo del Deseo, Zorro: La Espada y La Rosa,Victoria, Dona Barbara and the highest-rated original novela in Telemundo's history, Sin Senos no hay Paraiso.
Currently, RTI is in production with the network's primetime programs Ninos Ricos, Pobres Padres, and Victorinos, as well as the upcoming Bella Calamidades. It's also in pre-production for El Clon and La Reina del Sur.
Through Telemundo's international distribution arm, RTI novelas have been sold to networks in over 100 nations in Latin America, Europe and Asia
"We have become one of the top producers of original content in the world and this deal represents an important milestone in the growth of Telemundo. The success of our original content strategy has been driven by the extraordinary talent and dedication of the RTI and Telemundo teams," said Telemundo president Don Browne in a statement. "This formal relationship will create a strong and solid foundation that insures that Telemundo will continue to grow and flourish as a world leader in producing high quality original content."
Added Telemundo Studios president Patricio Wills: "RTI has been working closely with Telemundo since 2002. This agreement is a natural evolution and extension of our long lasting relationship into the future. Now Telemundo Studios has its own operation in Colombia and we're in a stronger position to do bigger projects for Telemundo and the world."