Southern Cross to Buy Grupo Expansión (Latin America)

Source: Southern Cross

Latin America-focused private equity firm Southern Cross has agreed to acquire Grupo Expansión (GEx), a magazine publisher in Mexico and a subsidiary of media company Time. Following the acquisition, GEx will continue to license the Time and Time Warner brands that have been part of its portfolio (CNNMéxico, InStyle and Travel + Leisure). Financial details of the transaction, which is subject to regulatory approvals, were not disclosed.