Telecommunications company Telefónica and media group Atresmedia, both based in Spain, have announced that they are setting up a company for the production of audiovisual content, after the approval of the operation by the European antitrust authorities. The new enterprise is called Buendía Estudios and it will work with projects for the Spanish, Latin American and U.S. Hispanic markets, according to a press release.

The new studio will produce movies, series and entertainment shows. For that purpose, the company will avail itself of Spanish and Latin American talent. “Buendía Estudios aims to be a benchmark in the creation and production of content in Spanish”, explained company executives in the press release.

Each company has a 50% holding in the new studio. Some months before this official announcement, in September 2019, both groups had disclosed the initiative without many details. The production company is already associated with Amazon, Netflix, Warner, HBO, TNT and Orange.

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