Grupo Televisa to Buy Stake in Radio Firm

Grupo Televisa, Mexico’s largest broadcaster, agreed to buy a 27.8% stake in Mexican radio company Grupo Acir Communicaciones for $101 million and plans to merge it with Televisa’s radio unit. Televisa will have a 50.01% controlling stake in the new company, called Grupo Acir-Radiopolis, and shareholders of Acir will own the rest. The new radio group will be the biggest in Mexico, with 116 radio stations that reach most of Mexico. Televisa bought the 20% held by Sinca Inbursa, the investment banking arm of the Slim family. The Slim family controls Telefonos de Mexico and other businesses. San Antonio-based Clear Channel Communications Inc., a shareholder in Grupo Acir, will own 24% of the new company.