Mexico’s giant multimedia broadcaster Televisa will increase its stake in Univision. Univision is the main Spanish-language network broadcaster in the US.
Normally, the FCC regulator limits the stake that can be held by any foreign broadcaster in a US network to 25 per cent. Televisa had asked the FCC to be permitted to increase its stake from 10 percent to 40 per cent. The FCC has now approved the move.
The FCC says that Televisa can hold up to 40 per cent of the voting interest in Univision, and 49 per cent of Univision’s equity. The announcement was made in a joint press release from both parties.
The FCC’s statement added that: “permitting increased foreign investment in Univision would serve the public interest in diversity and competition in the media sector without any countervailing national security, law enforcement or trade policy concerns”.
Televisa is owned by billionaire Emilio Azcarraga Jean, and is the largest media company in Latin America. It has long had an exclusive distribution deal with Univision.