Televisa sells share of Televisa CJ Grand
Details
Juan Fernandez Gonzalez
| 16 March 2018

Televisa continues trimming its portfolio of non-core assets with the sale of its 50% stake in the Televisa CJ Grand home shopping channel in Mexico.

The network was formed through a joint venture with CJ O Shopping, a South Korean company owned by the Seoul-based CJ Group.

According to the information sent to Mexico’s stock market authority, Televisa will continue providing certain services to CJ O Shopping for the channel’s production and distribution in Mexico.

“This transaction has resulted from Televisa’s ongoing thorough review of its portfolio of assets, which includes the disposition of select non-core operations,” said the media giant.

As part of its strategy, Televisa also sold its 19% participation in Spain’s Mediapro to the Chinese capital fund Oriental Hontai in a deal worth €284 million.

The Mediapro and CJ Grand sales won’t be the last such moves, as Televisa intends to focus on its main business areas – content production and distribution, as well as pay-TV in Mexico and Central America.