• Motley Fool, Wednesday, July 26, 2006 1 PM

The melodrama involving Grupo Televisa and its stake in Univision can make you forget there's a huge business here that has little to do with the American Latino TV market, writes Stephen Simpson at the Motley Fool. Looking at revenue and earnings, Univision probably matters less to Televisa than college-football TV rights matter to Disney or OLN ratings matter to Comcast. But he notes: "This is a maelstrom that any true hardcore lover of telenovelas can appreciate." And litigation is still afoot as Televisa asks a judge to affirm its right to distribute programming content over the Internet in the U.S. after mid-December, when a provision barring the airing of its content online expires. While Univision relies on Televisa considerably for programming, Televisa is looking to get out of a long-term program-licensing agreement to provide content to Univision, says Simpson, which makes "only a small part of its earnings."

Read the whole story at Motley Fool »