Televisa Sells Univision Shares

Mexican media group Televisa has divested itself of all its shares in Spanish-language US broadcaster Univision in return for $1.1 billion. Televisa announced its intention to sell its 11% shareholding last year after it lost its $12 billion bid to buy Univision to a US investor group. The sale frees Televisa from an agreement that restricts its expansion in the US market.