US Spanish language network Telemundo has acquired a 40% stake in Columbian producer RTI and will launch RTI Productions.
The NBC Universal-owned broadcaster acquired the non-controlling stake in the producer from local investors as part of its push to expand its international production business.
Telemundo previously acquired a studio that RTI owned in 2005 and the two parties have had an exclusive output deal since 2002, which has produced around 300 hours of content per year. Following this deal the companies hope to increase this to over 500 hours.
Telemundo, which also operates international sales arm Telemundo Internacional, is currently in production with RTI on two series including El Clon, a remake of Globo’s hit Brazilian series, and La Reina Del Sur.
The move comes as US studios continue to acquire production companies in Latin America, particularly in Columbia. News Corp acquired Telecolumbia in 2007 and Sony bought 50% in Teleset earlier this year.