Telemundo Announces Massive New, High-Tech Headquarters in Miami Ahead of 2018 World Cup
NBCUniversal Telemundo Enterprises announced on Tuesday it's planning to bring several of Telemundo's operations together into a new massive, high-tech facility in Miami, just in time to cover the 2018 World Cup.
One of the largest investments in broadcast facilities in South Florida history, according to the Miami Herald, construction of the new Telemundo headquarters is estimated to cost NBCUniversal -- and parent company Comcast -- $250 million.
The state-of-the-art 450,000-square-foot building will be located on a 21-acre campus in West Miami-Dade, in the Beacon Lakes District at the corner of NW 25th St. and the Florida Turnpike.
When construction is finished in early 2018, the new global headquarters facility will house the Telemundo Network, Telemundo Studios, Telemundo International, the NBC Universo network, and all of Telemundo's digital media operations. Telemundo's sales offices will continue to operate from New York City.
Currently, much of Telemundo's operations are stretched across several South Florida facilities in the area, including a production facility that has housed the Spanish-language broadcaster -- which now reaches an estimated 94 percent of Hispanic TV households -- for upwards of 30 years.
Sticking to Telemundo's Miami Roots
The new digs will house nearly all of Telemundo's global enterprises, while sticking to Telemundo's Miami roots.
"We looked at possible locations around the entire country before we settled on this one, because it's a very big decision and we had to make sure it was the right long-term choice for our business," said chairman of NBCUniversal Telemundo Enterprises Cesar Conde.
"Telemundo Enterprises has a long history of being in South Florida: We've grown with it and we've grown because of it," Conde continued. "Miami boasts the talent and capacity to be a thought leader in the arena of media. But over many years, the city has also created a community of very talented creators and programmers and talent in front and behind the camera. Those two dynamics allow us to be successful."
"I can't think of a better time to make this investment and help build on Telemundo's momentum," he added.
Expansion for Telemundo, Miami's Economy
The massive construction undertaking also means jobs for the local area, along with room for Telemundo to grow, increasing the long-term economic benefits to the region. Telemundo says the construction of the state-of-the-art facility is expected to create about 3,000 jobs, along with an estimated $400 million in opportunities for local Florida businesses.
When finished, the facility will house about 1,100 Telemundo employees initially, but will allow space for up to 1,500 staffers. Miami-Dade Deputy Mayor Russell Benford estimated the new headquarters could add 150 new jobs at the expanded Telemundo, each with an average yearly salary just under $90,000.
"For the last three years, Telemundo has been the fastest-growing network in the country," boasted Comcast executive David L. Cohen. "We see the value in this investment and had no reason to pull up Telemundo's roots from Miami."
Comcast bought Telemundo's parent company NBCUniversal in 2013 for $16.7 billion and has invested heavily in Telemundo ever since. Besides footing the $250 million bill for the new facility, it acquired exclusive U.S. Spanish-language media rights to the FIFA World Cup from 2018 through 2026 -- outbidding its chief rival Univision and reportedly paying nearly double Univision's $325 million payment for the rights to the 2010 and 2014 World Cup broadcasts.
"This is great news for Miami-Dade County and Telemundo," Miami-Dade County Mayor Carlos A. Gimenez commented. Gimenez collaborated with local businesses, economic councils, Florida state government, and NBCUniversal to seal the deal on Telemundo's expansion in the area.
"Telemundo has been a major employer in our community for decades and its continued growth is further evidence that the company is clearly an industry leader," he added, "and that Miami-Dade County continues to be a world-class community where people want to live and companies of all sizes and across all industries want to be located and expand in."
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