Grupo Televisa, S.A.B. (BMV:TLEVISA CPO) announced that it is aware of press reports regarding a potential merger of its cable business "Televisa Cable" with Megacable Holdings, S. A. B. de C. V. (BMV:MEGA CPO). In a regulatory notice, Televisa stated: "The company confirmed that it has held bilateral discussions with Megacable from time to time time with respect to a combination, and that on November 14, 2022, it submitted a proposal not binding of the transaction to the Board of Directors of Megacable. Televisa's proposal contemplates a merger of Televisa Cable into Megacable through a share exchange at a premium of approximately 19% for Megacable shareholders, in which the shareholders of Megacable and Televisa would own approximately 45% and 55% of the combined company, respectively.

The proposal also includes the possibility that, at the close of the transaction, Megacable shareholders receive a special cash dividend of approximately MXN 14.8 billion. Megacable would continue to be listed on the Mexican stock market as the entity resulting from the merger. The Company believes that the proposed transaction may represent benefits significant for both companies and their shareholders.

The combination would create a leading cable operator in Mexico, better positioned to compete in a highly competitive market".