Thwarted in their bid to take control of Univision (UVN.N), Mexican broadcaster Televisa (TLEVISACPO.MX) has contacted the consortium that bought them, for the purpose of selling their stake in the company. They currently own an 11.4 percent part of the company.
They were given the option of remaining a part owner once the company is taken private, which they don't want to retain.
Grupo Televisa said in a filing with the U.S. Securities and Exchange Commission, "Televisa is prepared to discuss with you (the consortium) a sale of its shares of Univision as soon as possible based on the present value of the price per share set forth in the merger agreement."
With no chance of controlling ownership, Televisa says that it would be released from a 1996 Participation Agreement with Univision that had kept it from expanding in the U.S, with the sale of its stake in the company.
Televisa said in a separate statement that, "If it is not bound by the Participation Agreement, Televisa will be able to engage in new business opportunities in the growing U.S. Hispanic marketplace related to its programming or otherwise without offering Univision participation in such opportunities."
The only remaining connection would be a long-term agreement between Televisa and Univision that requires Televisa to provide the great majority of television programming to Univision until 2017.
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