NBCUniversal Telemundo Enterprises is in expansion mode. As part of its plans to produce more premium scripted content and grow its international footprint, it has acquired Argentina-based production company Underground Producciones.
Financial terms of the deal were not disclosed.
Underground, which will keep its name and brand, will live as a division of Telemundo Global Studios and generate content for Telemundo’s broadcast and digital platforms, as well as produce universally appealing programming for third-party worldwide distribution.
Telemundo already produces most of its original series through its own studios, but according to the company, the acquisition will “super charge” its growth and premium content production capabilities.
Read more details about the acquisition on Forbes.