Mexico green-lights Televisa-TVI's buy-out


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Juan Fernandez Gonzalez

| 29 February 2016




Mexico's Instituto Federal de Telecomunicaciones (IFT) has given the go-ahead for Television Internacional's integration into Grupo Televisa.



televisaHalf of the company is already owned by Televisa, while the other 50% belonged to Grupo Multimedios, which will now have no control over the Monterrey-based pay-TV operator and broadcaster.

Following concerns about concentration in the telecom sector, the IFT was about to stop the deal, but then both Televisa and Multimedios agreed to accept conditions set by the authority.

The conditions are the same as those initially imposed when Televisa's first entered TVI, back in 2006.

The authority at that time, the CFC, ruled that Televisa's own executives could not become members of TVI's administration board, a rule which Televisa didn't follow leading to the group paying a $3 million fine in 2014.

Now the IFT has green-lit the operation through which TVI will become a Televisa company, but the major TV company will have to preserve TVI's independence.