MEXICO CITY - Grupo Televisa says it wants to sell its 11.4% stake in Univision Communications following its failed bid for the USA's largest Spanish language broadcaster [WAMN: 28-Jun-06].

Televisa, which provides many of the Los Angeles-headquartered broadcaster's hugely popular programs, has a tempestuous relationship with Univision and is further piqued by its auction rejection.

The Mexican company now says its is seeking to "engage in new business opportunities in the growing US Hispanic marketplace relating to its programming or otherwise, without offering Univision participation in such opportunities."