Televisa Pulls Out of Nextel

Broadcaster Televisa has pulled out of an agreement to acquire a 30% stake in Nextel Mexico, according to a joint press release. According to Nextel: “The decision to terminate the Investment Agreement stems from the parties’ differences in views on the regulatory and other risks associated with the investment and their inability to reach agreement on modifications to the Investment Agreement that would address those risks.” Televisa did not respond to calls for comment. Nextel also says the decision to terminate the agreement stems from Televisa’s decision to maintain its independence while pursuing opportunities in the Mexican wireless space. Televisa had said it hopes to bring quadruple play to Mexican consumers with the deal, which was conditional on Nextel/Televisa being awarded licenses to use specified amounts of spectrum in upcoming auctions in Mexico.