Grupo Televisa Selling Content Assets to Univision for $4.8B
Grupo Televisa will sell its content assets to Univision for $4.8 billion, Televisa said in a news release Tuesday. The new company will be called Televisa-Univision and will be led by Univision CEO Wade Davis, the release said. “The transaction…
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is expected to close in 2021, subject to customary closing conditions, including receipt of regulatory approvals in the United States and Mexico, and Televisa shareholder approval,” it said. The combined company will be “the largest Spanish-language media company in the world,” the release said. The assets also include “four free-to-air channels, 27 pay-TV networks channels and stations, its Videocine movie studio and Blim TV subscription video on demand (SVOD) service; and the Televisa trademark,” the release said. Japanese holding company SoftBank International is investing $1 billion in the deal. Its involvement will likely require specific FCC approval due to foreign-ownership rules, a broadcast attorney said. After the deal, SoftBank International CEO Marcelo Claure will become vice chairman of the new company's board.