Netflix, Inc. (MM) (NASDAQ:NFLX)
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Mexican broadcast and telecommunications company Grupo Televisa SAB (TV, TLEVISA.MX) said Tuesday it has reached a licensing agreement to provide content for online movie and television provider Netflix Inc. (NFLX).
Televisa, Mexico's leading television company with four nationwide broadcast channels, the country's biggest satellite TV service and large cable holdings, said the multi-year accord will give Netflix non-exclusive access to nearly 3,000 hours a year of soap operas, television series and entertainment programming, which will be available one year after being broadcast.
Televisa is the world's biggest producer of Spanish-language television programming. The company said the agreement will increase the availability of its content in Latin America, Brazil and the Caribbean, where Netflix plans to launch its subscription service toward the end of this year. The agreement excludes the U.S.
Netflix, based in Los Gatos, Calif., said earlier this month that it plans to bring its service to 43 countries in Latin America and the Caribbean, including Mexico, this year.
-By Anthony Harrup, Dow Jones Newswires; (5255) 5980-5176; email@example.com