Televisa To Sell Univision Stake
October 11, 2006 at 5:31 AM (PT)
GRUPO TELEVISA has announced that it will sell its 11% share of UNIVISION. The sale is expected to raise more than $1 billion for the MEXICO media giant, which lost out on its bid to take over its longtime U.S. programming partner to a rival consortium led by producer HAIM SABAN.
The announcement by TELEVISA Chairman EMILIO AZCARRAGA did not indicate what the move means for the future of the company's critical TV programming arrangement with UNIVISION's TV stations, under which TELEVISA has supplied a large number of the TV network's most popular shows.