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NBC has agreed to buy Telemundo Communications Group Inc., the nation’s No. 2 Spanish-language broadcaster, for $1.98 billion from Sony, Liberty Media and a consortium of other investors.
The cash and stock deal for 100 percent of the Hialeah, Fla.-based company is NBC’s largest acquisition and includes the assumption of $700 million in debt.
NBC outbid media rival Viacom to win Telemundo, which reaches 6.8 million homes but trails Univision.
“The vibrant Hispanic market accounts for a significant and growing share of the nation’s economy and we are eager to draw on Telemundo’s expertise to better serve this important audience,” said Bob Wright, chairman and CEO of NBC and vice chairman of parent company General Electric.
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