February 16, 2018 / 1:27 PM / 7 months ago

Mexican broadcaster Televisa to sell stake in Spanish media group

MEXICO CITY, Feb 16 (Reuters) - Mexican broadcaster Televisa said on Friday it had reached an agreement to sell its 19 percent stake in Imagina, a Spanish media group, for 284 million euros (6.558 billion pesos).

Televisa, the biggest producer of content in Spanish, said it plans to sell certain operations that are no longer strategic to focus on content and distribution, a decision taken after a thorough review of its portfolio.

Grupo Televisa said the transaction is subject to the meeting of certain conditions, which it expects to take place in the next few months. (Reporting by Sheky Espejo; Writing by Julia Love; Editing by Bernadette Baum)

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