Editors Note: Prior to the creation of ‘TelevisaUnivision’ a newly merged company, Jorge A. Martínez y López held the position of deputy head counsel, media for equity, M&A and compliance areas for Grupo Televisa. He is currently the head of legal of talent (celebrities), marketing and music areas in TelevisaUnivision.

Could you tell us a bit about your significant successes in your role?

The previous position I held in Grupo Televisa, (“Televisa”), currently a major telecommunications corporation which owns and operates one of the most significant cable companies, as well as a leading direct-to-home satellite pay television system in Mexico, was as media for equity and M&A deputy head counsel.

As such, I participated, among other relevant transactions, in the sale to Live Nation Entertainment of Televisa’s unconsolidated 40% equity participation in OCESA, an important live entertainment company in Mexico, among the three most important promoters in the world and the most relevant in Latin America.

In addition, I participated in several venture capital investments in companies with high growth potential through a media for equity model, boosting its growth by strengthening its positioning and brand awareness in relevant markets. Televisa’s media for equity transactions consist of tailor-made media campaigns through a rendering of advertising services in free-to-air television, pay television and digital platforms in exchange of an equity participation in start-up companies of different sectors. The price per share of these companies is determined depending on the funding round. I provided comprehensive legal advice, including the best legal structure for the transaction (i.e., stock purchase agreement, simple agreements for future equity or convertible loan agreements), and was in charge of designing and implementing the most complex contractual and corporate aspects, negotiating additional corporate rights that major investors have, since we have a minority participation in the start-up companies. I was also generally involved in all stages of decision making in the media for equity transactions for amounts greater than $5m, and with start-up companies which are mostly considered as “unicorns” today.

On January 31st, 2022, the merger of Televisa’s media, content and productions assets with Univision became effective, creating the premier global Spanish-language media company, which was the most challenging and interesting transaction that I participated in during my seven years in the position.

In my current role, I provide quick and efficient legal support in different aspects to the production teams for the recording of soap operas, programs, reality shows and original productions for the global streaming service “ViX+”, which was launched in 2022 in Mexico, United States and Latin America. My work focuses mainly on coordinating the legal team in charge of preparing and executing major contracts for locations, artists, supporting staff and other indispensable legal aspects that need to be in place, to allow the production teams to be able to work on time and within budget.

What is the biggest risk to your industry, and how are you contributing to prepare your organisation for this?

The media industry must respond to changing realities, as a result of the globalization and the trend of the final consumer, as well as to advances brought by modern technology, for the development of its productions to create new content to be broadcasted in free-to-air television, pay television and digital platforms, and such content to be accepted by the audience.

Another risk is that every day there are new programs in different digital platforms, such as in YouTube, as well as the creation of new content by individuals (influencers) to be broadcasted in Instagram, Facebook, Tik Tok, among other platforms. As a result of the foregoing, some companies prefer to invest in advertising with those individuals than in advertising companies, since the costs are lower and are focused on different targets, such as entertainment, food, travels, fashion, among others.

As a legal team, it is our responsibility to cover the unexpected issues that arise, but also be able to swiftly react and adapt. We are learning to look at our work from different perspectives, other than the legal aspects of it. We have to acquire more knowledge about the entertainment industry through training programs. We are trying to establish processes to face risks. We have been focused on a better use of technology, emphasizing a better understanding and exploitation of existing internal resources, such as SharePoint, OneDrive, Teams and such, as well as automating internal processes.