After losing out on Jerrold Perenchio's Univision auction last week, disappointed executives at Grupo Televisa said they would step back and reflect on their next move. Today they came up with a move. Televisa will sell its 11% stake in Univision rather than work with the new Haim Saban ownership group. Michael Learmonth reports in Variety that Televisa believes this will free the Mexican company to makes its popular telenovelas and other programming available to Univision competitor Telemundo or to start its own rival network.
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