INTO
49% OF THE EQUITY OF CABLEMÁS
Mexico
City, May 13, 2008- Grupo Televisa, S.A.B. (“Televisa”; NYSE:TV; BMV:TLEVISA
CPO), today announced that COFECO, the Mexican antitrust commission, authorized
the conversion of Televisa’s long-term convertible notes into 99.99% of the
equity of Alvafig, which holds 49% of the voting equity of
Cablemás.
In a
statement issued today, COFECO confirmed that Televisa has complied, among
other things, with the must-offer condition imposed by the commission.
Therefore, the conversion is approved.
Alfonso
de Angoitia, Executive Vice-President of Grupo Televisa said: “With this
approval, Televisa is better positioned to capitalize on the market’s adoption
of triple-play services. This is a significant step in our strategy to
become an important player in the cable and telecom market in
Mexico.”
Cablemás
is the second-largest cable company in Mexico based on number of subscribers and
homes passed. As of December 31, 2007 Cablemás served about 800,000 cable
television subscribers, 220,000 high-speed internet subscribers and 41,000 IP
telephony lines with 2,200,000 homes passed.
Grupo
Televisa, S.A.B., is the largest media company in the Spanish-speaking world and
a major participant in the international entertainment business. It has
interests in television production and broadcasting, production of
pay-television networks, international distribution of television programming,
direct-to-home satellite services, cable television and telecommunication
services, magazine publishing and publishing distribution, radio production and
broadcasting, professional sports and live entertainment, feature-film
production and distribution, the operation of a horizontal internet portal, and
gaming. Grupo Televisa also owns an unconsolidated equity stake in La Sexta, a
free-to-air television venture in Spain.
Investor
Relations:
|
Media
Relations: |
|
|
Michel Boyance |
Manuel
Compeán |
María José
Cevallos |
Tel: (5255)
5728-3815 |
Tel: (5255)
5261-2445 |
Fax: (5255)
5728-3632 |
Fax: (5255)
5261-2494 |
[email protected] |
[email protected] |
http://www.televisa.com |
http://www.televisa.com |
|
http://www.televisair.com |
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