LYCOS RETRIEVER 
Telemundo: Networks
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Along with job cuts at local stations, Telemundo is creating new jobs at the network’s hub in Fort Worth. After adding these positions, the network estimates the net job loss to be just under 5 percent of Telemundo’s less than 2000 employees, according to Vice President of Communications Alfredo Richard.
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Telemundo, a U.S. Spanish-language television network, is the essential entertainment, news and sports source for Hispanics. Broadcasting unique national and local programming for the fastest-growing segment of the U.S. population, Telemundo reaches 93% of U.S. Hispanic households in 142 markets through its 16 owned-and-operated stations, 36 broadcast affiliates and nearly 684 cable affiliates. Telemundo is wholly owned by NBC Universal, one of the world's leading media and entertainment companies.
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Telemundo, he decided, had to return to its roots. That meant only Spanish. McNamara dumped the experiment with English-language subtitles and moved network executives out of California and back to Hialeah, a working-class city outside Miami where Spanish rules.
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In 1994, Telemundo caught on the fever of producing 24 hour news. The network launched Telenoticias partnering with Argentina's Artear Network, Antena 3 from Spain, and Reuters. The venture was not successful and the service was sold to CBS. Rebranded as CBS Telenoticias, the network did air all over the Americas.
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In terms of size and reach, Telemundo sat perfectly in the middle of the three Spanish television networks. At the upper end, the leader is Univision (nyse: UNV - news - people ), an $863 million (sales) company with an 80% share of the Spanish market. At the other end is Hispanic Television Network (OTC: HTVN - news - people ), which reaches between 3 million and 4 million subscribers in about 200 U.S. cities.
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When Telemundo was acquired in 1998, Sony and Liberty Media put the faltering network on a five-year plan to profitability. But after the disastrous 1998-99 season, Telemundo was far off from its financial targets. “Now we’ve fully recovered and I’d say we’re slightly ahead at this point,” said McNamara.
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