(Telecompaper) Telefonica and commercial broadcaster Atresmedia have announced the official launch of their joint project to create and produce Spanish language content for distribution around the world after receiving the approval of European Commission antitrust authorities. The 50-50 joint venture will be called Buendia Estudios and will be run by Atresmedia general director Ignacio Corrales. It will be above all aimed at boosting each company's ability to promote Spanish and Latin American talent throughout the world, producing premium content for third parties and creating partnerships and co-productions with other companies in the sector.