Mexico’s Televisa, CIE in Joint Venture
Top Mexican media firm Grupo Televisa and live entertainment company CIE said they were forming a joint venture to bring the likes of the Rolling Stones and “Phantom of the Opera” to Mexico.
Televisa said it will pay $107.2 million to acquire 40% of a newly formed subsidiary of CIE that holds CIE’s Mexican business assets including production companies, large venues and Mexico’s biggest ticket company, Ticketmaster.
The joint venture will use Televisa’s broadcasting networks to promote events, while Televisa will have rights to air content from the live shows on regular and pay TV.
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