Televisa to sell outdoor advertising division

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MEXICO CITY -- Grupo Televisa has agreed to sell its billboard advertising division to Outdoor Systems Inc., the largest out-of-home media company in the U.S. and Canada.

Pending regulatory approvals, Outdoor Systems will pay $215 million for Vendor, Mexico's largest billboard company and the only one with national coverage.

Vendor owns 6,000 billboards, of which about 22% are in Mexico City. Televisa owns a controlling 44% interest in Vendor.

Some advertisers had complained of shoddy service by Vendor and of pressure to use the Televisa subsidiary.

Outdoor will also reportedly buy another outdoor ad company, Multimedios Estrellas de Oro, for $22.5 million.

Copyright June 1998, Crain Communications Inc.

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