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MIAMI The toughest challenge for Telefonica Media (TM) remains the conquest of Latin America and the U.S. Hispanic market.
It has large ambitions. "In tree years, in addition to Antena 3, we would like to not necessarily control but at least be present in 10 different countries within the Spanish and Portuguese world," says TM chairman Jose Antonio Rios.
As Rios would be the first to admit, however, that is easier said than done. Populations in Latin America are diverse and increasingly favor local productions; pay TV competition is growing; and major media congloms like Mexico's Televisa and Brazil's Globo are entrenched in their home markets.
Via its international division, parent company Telefonica'smain thrust into media has been in Argentina, the only big Latin American market without a single dominant TV player, and arguably the large country most open to …