How a merger between petco and TV giant Telemundo could boost Australia’s economy by up to $2.7 billion.
Key points:The deal would create the largest single-market TV network in the world, with more than 1.2 billion subscribers across more than 40 countriesA major TV station in Australia could see its revenue increase from $20 million to $100 million in the next five yearsA deal could also mean cheaper TV packages for Australians and lower prices for other countriesThe deal, which has not been formally announced, would create a multi-platform network that could cover more than 100 countries.
“I am so excited,” Petco chief executive Peter Barwick said.
“The combination of the petco-TV network and Telemenda will create a truly international platform for Australians to consume the most compelling and trusted entertainment.”
Telemundo currently offers its programming in more than 50 countries.
The Telemonde deal would be the first ever in Australia, and would create one of the world’s biggest multi-national networks, with its programming delivered to more than 120 countries.TV stations in Australia include Seven, Channel Nine, Channel Seven, Nine Foot, Seven’s regional affiliates and regional networks including Nine and Seven West.
Keypoints:Telemenda is the world leader in sports and entertainment.
It has about 1.5 billion subscribers worldwideTelemunde already has a global audience of more than 300 million across more a dozen countriesTelemunda is owned by Petco, the world-wide owner of the major petco brands.
It is also the largest domestic petco company.
In Australia, Petco has around 1.3 million customers in almost 90 different countries, and has about $30 billion in revenue.
The network could be viewed as a major step towards building up Petco’s international footprint.
“Petco has always strived to be a global leader in the entertainment, sports and news industries, and we are delighted to be able to bring our global vision to a global platform,” Barwick added.
“Our team will continue to grow and expand our international reach, and this partnership will help us achieve that goal.”
“This deal is an incredibly exciting milestone for our business and will add to our momentum to build an even more global network.”