MEXCIO CITY: Grupo Televisa, Mexico's biggest media company, is refusing to give up its pursuit of US Spanish language broadcaster Univision Communications, despite another consortium's winning bid.

Televisa, which seemingly lost out to a private equity group lead by billionaire investor Haim Saban this summer [WARC News: 28-Jun-06], is reported to have been in discussions with its own consortium members and investment banks about a renewed and higher offer.

If the Mexican company, led by Emilio Azcarraga Jean, is serious, it will have to act quickly. Univision shareholders are due to vote on the offer accepted by the board on September 27.

Data sourced from Financial Times online; additional content by WARC staff