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Telefónica, Atresmedia to form Spanish-focused production company

Telefónica SA and Atresmedia Corporación de Medios de Comunicación SA are teaming up to form a new company that will create Spanish-language fiction content.

Each of the Spanish media companies will own 50% of the planned entity, which will provide content for Telefónica's Movistar+ and Atresmedia, as well as for third-party operators.

The agreement has yet to be approved by Telefónica's executive committee.