LOS ANGELES Telemundo and its affiliated station groups are in final negotiations to consolidate all of the network's media buying and planning duties at Horizon Media, according to sources.
The Telemundo account is worth $20-25 million, sources said.
New York-based Horizon already handles a large portion of Telemundo parent NBC's media buying and planning, but the deal marks the first time the two networks will closely coordinate their marketing efforts across media platforms. (Publicis Groupe's Fallon in Minneapolis also handles some client media chores.)
The decision marks a significant shift in policy for both networks.
When asked about the decision to combine the two network's media buying and planning with one agency today during the network's preview of its upfront presentations, Steve Mandala, senior vice president for sales and marketing at Telemundo and NBC Universal, said only, "We are just not ready to talk about that yet."