MEXICO CITY — Televisa has pulled out of its proposed purchase of a controlling stake in Radio Centro. Move would have created Mexico’s largest radio network.
Radio Centro, which owns 11 stations in Mexico City and two outside the capital, registered sales of 195 million pesos ($20 million) in the first quarter.
In a statement, Televisa said the split had been amicable but did not explain the reason. Some Radio Centro shareholders were, however, concerned about what they regarded as low editorial standards at Televisa.