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.
