NBCUniversal Telemundo Enterprises has acquired leading Argentine production company Underground Producciones, according to what the specialized media Variety reported. Telemundo’s new wholly-owned subsidiary will continue under the leadership of its General Director, Sebastian Ortega, who joins the development and creative team of Telemundo Global Studios. The agreement’s financial terms were not disclosed.
‘Acquiring Underground Producciones is a strategic investment to help us meet the growing demand for high-quality, cutting-edge Spanish-language content in the US, and around the world’, said Marcos Santana, Telemundo Global Studio’s President. Sebastian Ortega has also expressed himself on the acquisition and said that the union ‘represents a new era and a huge leap in artristic evolution for all of us on the team’. Variety has also reported that, according to Santana, ‘the idea is to generate more universally appealing conteng, not only for NBCUniversal Telemundo’s broadcast and digital outlets, but also for third-party platforms’.
Last year, Telemundo adapted Underground’s production ‘El Marginal’, now on its third season in Argentina, renaming it ‘El Recluso’ for the US Hispanic Market. In October, Telemundo will begin production of its ‘100 días para enamorarse’ (100 days to fall in love) version, a ratings leader on Viacom-owned Telefe in Argentina.