Televisa eyes Megacable merger
December 13, 2022
By Colin Mann
Mexican broadcaster Grupo Televisa is offering to merge its cable and broadband unit Izzi with smaller rival Megacable, according to Reuters.
A stock-for-stock deal would result in Megacable’s shareholders owning about 45 per cent of the merged company with Televisa at about 55 per cent.
Televisa would also offer Megacable shareholders a 14.8 billion peso (€707m) special dividend at the deal’s close that would either be financed by third-party lenders or its own cash on hand.
Televisa accounted for more than 62 per cent of the pay-TV market in 2021, while Megacable had about 21 per cent.