Televisa Cable to merge with Megacable Holdings.

Televisa Cable, the cable business of Grupo Televisa, offered to merge with Megacable Holdings, a cable operator and provider of internet and phone service. Financial terms were not disclosed. Televisa’s proposal provides for a stock-for-stock merger of Televisa Cable into Megacable at a premium of approximately 19% for Megacable shareholders, with Megacable shareholders and Televisa owning approximately 45% and 55% of the combined company, respectively.