Mexico's Television May Launch New U.s. Network
After failing to acquire Univision, the nation's largest Spanish-language broadcaster, Mexico's Grupo Televisa is now casting itself in the role of spoiler, maintaining that it has no intention to contribute its shares in Univision to the winning bidders, Umbrella Holdings, headed by media mogul Haim Saban. In an SEC filing, Televisa also said that not only is it considering selling its shares to another investor or group of investors, but that it is also considering starting a rival Spanish-language network. Currently Televisa supplies most of Univision's programming and has a contractual obligation to continue to do so until 2017. Today's (Thursday) Wall Street Journal reported that the company is still considering assembling a better bid than the one offered by Umbrella.