In a sign that Univision and Televisa have patched over their longstanding disagreements, the Mexican media giant has agreed to invest $1.2 billion in Univision and expand its long-term programming agreement with the largest U.S. Hispanic broadcaster.
Televisa had filed a lawsuit in 2006 to attempt to get out of its programming agreement with Univision, which is heavily dependent on Televisa's telenovelas for its primetime ratings.
Under the terms of the binding agreement, Televisa will invest $1.2 billion and contribute its 50% stake in the TuTv Hispanic channels it jointly owns with Univision for a 5% equity stake.
As part of the deal, Univision will have exclusive U.S. Spanish language rights to Televisa's programming and be able to ply it for both its networks and online efforts.
Besides the expanded digital rights, the new programming agreement is also extended beyond 2017 to 2020.
The deal significantly strengthens Univision's programming position both for its popular TV networks and its growing digital platforms and provides Televisa with significantly higher royalty payments for its programming.