Atresmedia and Telefónica confirmed the news this week, after having received the approval from Europe.

In September last year, Atresmedia and Telefónica announced the creation of a joint venture to produce series and films in Spanish globally.

Since then, little has been known about it, with the information coming out in small quantities, generally, through exclusives from the Spanish media.

El Confidencial Digital has been one of the most active in this regard. And now, the platform revealed that the new company will be called Buendía Estudios. As was known, it will be 50-50% owned by Telefónica and Atresmedia.

Hours later, Atresmedia and Telefónica confirmed the news, after having received the go-ahead from Europe.

According to El Confidencial, Ignacio Corrales, current CEO of Atresmedia Studios, will also lead the new company.

Its board of directors, meanwhile, will be made up of Emilio Gayo, president of Telefónica Spain; Sergio Osle, President of Movistar+; and Eduardo Navarro, director of Strategy and Corporate Affairs of Telefónica for the Spanish operator.

Atesmedia will seat Silvio González, CEO of the communication group; Javier Bardají, CEO, and a third person still to be decided.

Along with Ignacio Corrales, the company will be directed by Domingo Corral, director of Original Production, Cinema and Series at Movistar+.

Buendía Estudios will produce original series and films for Movistar+ and Atresmedia, as well as for third parties worldwide.

Among its strategic objectives, the new studio was born with the vocation to compete in the Spanish, Latin American and US Hispanic markets.

As detailed, it already has among its partners with Movistar+, Atresmedia, Amazon, Netflix, Warner – HBO, TNT, HBO Max-, Orange and Autonomous Channels.