Mexican broadcaster Grupo Televisa is offering to merge its cable and broadband unit Izzi with smaller rival Megacable, according to Reuters.

A stock-for-stock deal would result in Megacable’s shareholders owning about 45 per cent of the merged company with Televisa at about 55 per cent.

Televisa would also offer Megacable shareholders a 14.8 billion peso (€707m) special dividend at the deal’s close that would either be financed by third-party lenders or its own cash on hand.

Televisa accounted for more than 62 per cent of the pay-TV market in 2021, while Megacable had about 21 per cent.

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Tags: izzi, megacable, Televisa