Mexico’s media giant Groupo Televisa is buying 30 percent of Nextel, for $1.44 billion as part of its quadruple play offer. Televisa can acquire another 7.5 percent of Nextel Mexico in the third or fourth year after this deal closes. Nextel Mexico is a subsidiary of NII Holdings, the international arm of Sprint (NYSE: S) Nextel Corp.
This continues is expansion beyond its core TV franchise in the recent years, into cable, satellite and now telecom. It can now bid jointly with Nextel for new wireless spectrum, up for auction later this year, reports WSJ.