Televisa Agrees to Buy Cablecom for $545 Million

The deal would add more than a million subscribers for the Mexican pay TV market giant.

MEXICO CITY – Mexican media giant Televisa has reached an agreement to purchase a majority stake in cable outfit Cablecom for $545 million.

Should Televisa get regulatory approval, it will buy 51 percent of Cablecom with the option to acquire the remaining 49 percent of the cabler, which has 1.2 million subscribers.

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Televisa dominates Mexico's pay TV market with an estimated 8 million clients between its several cable TV outfits and satcaster Sky Mexico.

Congress here passed a recent reform bill that aims to open Mexico's highly concentrated telecom and TV sectors to competition. If Televisa gets the green light, the move would strengthen its grip on the market.

Televisa is also Mexico's top network and a major content provider for its stateside partner, Univision.