Televisa grabs spectrum

As Mexico prepares for a wireless spectrum land rush, Grupo Televisa SAB agreed in mid-February to pay $1.44 billion for a 30% stake in the local subsidiary of mobile group NII Holdings Inc.

The Mexican government is readying an auction of spectrum licenses earmarked for so-called third-generation services that make greater use of data and media. Televisa can augment its television, broadband and landline phone services with mobile for the coveted "quad play." NII gets a wealthy local partner with a trove of content and cash to spend at the auction. NII is the former international arm of Nextel Communications Inc., which merged with Sprint Corp. in 2005.