Televisa, Univision Deal Ushers in New Era

Rife with betrayal, relationships gone bad and court battles, the decades-long relationship between Mexican broadcaster Grupo Televisa and U.S. Spanish-language media firm Univision Communications has played out with all the melodrama found in their hit telenovelas.

But a deal unveiled Tuesday between the largest Spanish-language media firm in the world and the largest in the U.S. seems to put the legal wrangling solidly behind them, align their interests and signal a new era of collaboration.

Televisa will make its comeback as a Univision investor, paying $130 million to buy a 5 percent stake.

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