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Sony and Liberty formed a holding company that was operated as a 50/50 joint venture between both companies, Telemundo Communications Group.Helmed by yet another management team under the leadership of former CBS entertainment president Peter Tortorici as president and CEO and Nely Galán as president of entertainment, Telemundo explored avenues to attract the bilingual market.

The station was also known for its "fingers" logo – a bold number "2" with the silhouette of two upright fingers inside the number – and referred to itself as "El canal de los dedos" ("The Channel of the Fingers").In an effort to boost its tepid ratings and quell complaints from advocacy organizations such as the National Hispanic Media Coalition that criticized both networks for not featuring content relatable to American Latinos, Telemundo outlined a new strategy to better compete against Univision by increasing production of domestically produced programs.In 1995, under the direction of executive vice president of programming Harry Abraham Castillo, Telemundo opened its first network studio on the West Coast.These stations joined KVEA (channel 52) in Los Angeles, run by its general manager and part-owner Joe Wallach, in 1985.The following year, KVEA's part-owner, Reliance Group Holdings, acquired the Telemundo brand when it purchased John Blair & Co., which also owned WSCV (channel 51) in Fort Lauderdale–Miami-West Palm Beach in addition to WKAQ-TV. In 1987, Reliance Capital Group executives Saul Steinberg and Henry Silverman merged all these stations into the Telemundo Group.

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