Mexican co. allying with Grupo Acir, Clear Channel
MEXICO CITY — Televisa has unveiled plans to form Mexico’s largest radio network in an alliance with leading radio chain Grupo Acir and U.S. media player Clear Channel Communications.
The Mexican web will buy 28% of Acir for $101 million and merge it with its own Radiopolis network. The new chain will control nearly 200 stations and affiliates across the country.
Televisa will have 50% of the group, Acir 26%; the remainder will belong to Clear Channel, which owns 1,096 radio stations in the U.S. and has been a shareholder in Acir since the 1970s.
Televisa chairman Emilio Azcarraga said the new group hoped to broadcast in Spanish into the U.S. as well as in Latin America territories outside Mexico.
Move, subject to regulatory approval, follows an attempt by Televisa to acquire another Mexican radio chain, RadioCentro, which broke down following due diligence.