MEXICO CITY — Mexican regulator the Federal Competition Commission (CFC) has greenlit media conglom Grupo Televisa’s $107 million purchase of a 40% stake in Corporacion Interamericana de Entretenimiento (CIE), Latin America’s leading live entertainment promoter.
Deal, inked in October, brings together the two concerns’ ticketing and live entertainment businesses and allows vertical integration of ticketing and promotion for concerts by Televisa’s roster of Latino stars.
The only condition imposed by the CFC was that Televisa sell its shares in Eventicket. Eventicket is smaller than Ticketmaster, which dominates the Mexican market and is 50.1% owned by CIE. Televisa execs indicated they would comply.
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