July 3, 2020 / 1:41 AM / a month ago

Mexico's Televisa says concludes sale of 50% stake in radio network

MEXICO CITY, July 2 (Reuters) - Mexican broadcaster Televisa has concluded the sale of its 50% stake in Mexican radio network Sistema Radiopolis for 1.248 billion pesos ($55.57 million), it said on Thursday.

The sale of Televisa’s stake in Sistema Radiopolis, which operates 17 radio stations in Mexico, was part of a plan to offload certain “non-strategic” operations and focus on content and distribution, the company said in a statement, without identifying the buyer.

A year ago, the company announced plans to sell the unit to a company owned by the family of Mexican magnate Miguel Aleman.

$1 = 22.4598 Mexican pesos Reporting by Sharay Angulo and Daina Beth Solomon; Editing by Tom Hogue

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