Cablemas Announces That Cablestar Has Signed an Agreement to Acquire Bestel

Cablemas Announces That Cablestar Has Signed an Agreement to Acquire Bestel

MEXICO CITY, Aug. 31 /PRNewswire/ -- Cablemas S.A. de C.V. (Cablemas), the second-largest cable television operator in Mexico based on number of subscribers and homes passed, today announced that Cablestar, S.A. de C.V. ("Cablestar"), has signed an agreement to acquire the majority of the assets of Bestel, a privately held, facilities-based telecommunications company in Mexico, for US$256 million in cash plus an additional capital contribution of US$69 million, for a total cash amount of US$325 million.

Bestel focuses on providing data and long-distance services solutions to carriers and other telecommunications service providers in both Mexico and the United States. The company owns a fiber-optic network of approximately 8,000 kilometers that covers the most important cities and economic regions of Mexico as well as the states of Texas and California in the United States. The company is able to provide connectivity between the United States and Mexico, a key advantage.

Cablestar is owned 70% by Empresas Cablevision, S.A.B. ("Cablevision"; BMV: CABLE), in which Grupo Televisa, S.A.B. owns a 51% stake; 15% by Television Internacional, S.A. de C.V., which is based in Monterrey, and 15% by Cablemas, S.A. de C.V.

The transaction is subject to certain conditions, including the approval of regulatory authorities in Mexico.

About Cablemas

Cablemas is the second-largest cable television operator in Mexico based on number of subscribers and homes passed. As of June 30, 2007, Cablemas' cable network served over 753,161 cable television subscribers, 203,890 high- speed internet subscribers, and 30,202 IP telephony lines, with 2,160,634 homes passed.

Cablemas is the concessionaire with the broadest coverage in Mexico, operating in 46 cities throughout the country's oil, maquiladora and tourist regions as of June 30, 2007. Cablemas has consistently introduced innovative products in Mexico and is the first cable operator in the country to provide a "Triple Play" bundled service package of cable television, high speed internet and IP telephony. More information about Cablemas can be found at www.cablemas.com.

This document may contain certain forward-looking statements concerning Cablemas' operations, performance, business, financial condition and growth prospects. These statements are based upon beliefs of management as well as a number of assumptions and estimates, which are inherently subject to significant uncertainties, many of which are beyond Cablemas' control. Actual results may differ materially from those expressed or implied by such forward- looking statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in the Mexican economy, including changes in inflation rates or exchange rates, changes in political conditions and government policies in Mexico, increased competition, regulatory developments and customer demand. These statements are made as of the date of this press release and Cablemas undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise in light of these risks and uncertainties, there can be no assurances that the events described or implied in the forward-looking statements contained in this document will in fact transpire.

First Call Analyst:
FCMN Contact:

Source: Cablemas S.A. de C.V.

CONTACT: In Mexico, Sebastian Castro Brotto, Budget and IR Manager,
Cablemas, +52-55-24-54-58-84, sebastian.castro@admCablemas.com.mx; or in the
United States, Susan Borinelli, +1-646-452-2332,
sborinelli@breakstone-group.com, or Maura Gedid, +1-646-452-2335,
mgedid@breakstone-group.com, both of Breakstone Group, for Cablemas

Web site: http://www.cablemas.com/

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Profile: International Entertainment