Endemol has acquired a stake in Argentinean producer Underground Contenidos as it looks to further boost its international production business.
The international formats giant has acquired a minority stake in the producer, which is best known for creating gender swap comedy La Lola, with an option to acquire a majority stake.
Underground Contenidos is run by La Lola creator Sebastian Ortega.
The two companies have also set up a joint venture company, which will see Endemol distribute all of Underground’s future projects.
Endemol and Underground had previously worked together to co-produce El Existo Sr. Pells (The Successful Mr and Mrs Pells), a 120x1hour novela for Telefe that follows a successful television journalist who marries his co-anchor to keep ratings high.
Underground had previously worked closely with Dori Media on La Lola and the distributor has sold the series across the world including to the United States, where it is being produced as a pilot for the Fox network.