Televisa negotiates with Imagina non-strategic operations

According to a statement amplified by Bloomberg, the Televisa group announced last Friday that has agreed to sell its stake in the Spanish group Imagina and get rid of some non-strategic operations to concentrate on its production and content distribution businesses.

Televisa, with shares climbing 3.5 percent after the announcement, expects to receive about 284 million euros for its 19% stake in the Spanish media firm, which in turn announced the entry into its capital of Chinese group Orient Hontai.

The sale of the stake in Imagina is the first step in this initiative “towards a focus on content and distribution,” the statement said.

Televisa that has fallen on its sales in recent quarters, hit mainly by lower advertising revenues and content sales seeks to reorganize quickly and contemplates a scenario in which all its divisions will not remain under the same company umbrella.

It is expected that the company will disclose its 2017 financial report next week.

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