Corporativo Coral to acquire a 50% stake in Sistemas Radiopolis from Televisa for $66m.

Corporativo Coral, a company owned by the Alemán family, agreed to purchase Televisa’s 50% equity participation in Sistemas Radiopolis, which owns and operates 17 radio stations in Mexico, from Grupo Televisa. In consideration for the sale, Televisa will receive MXN1.2bn ($66m). At closing, Televisa will also receive a dividend of approximately MXN200m ($11m). The sale of Televisa’s equity participation in Radiopolis is part of the Company’s previously announced plans to sell select non-core operations allowing it to focus its resources on its content and distribution assets. The transaction is subject to customary closing conditions.