Mexican broadcaster Televisa, the Spanish-speaking world's largest media group, announced Thursday that it had paid 7 billion pesos ($546 million) as it seeks to acquire a majority stake in cable TV operator Cablecom.

In a regulatory filing, Televisa said it had invested that amount in convertible debt in Tenedora Ares, the holding company of Mexico's Cablecom.

If regulators authorize the transaction, that investment could convert into a 95 percent equity stake in Ares, which in turn owns 51 percent of Cablecom, Televisa said.

Under the terms of the deal, Ares will have the option to purchase the remaining 49 percent in Cablecom "at a price equivalent to 9.3 times earnings before interest, taxes, depreciation and amortization for the 12 months prior the date it exercises the option," the filing said.

As part of the deal, Televisa said it also invested approximately 2.5 billion pesos ($195 million) in Ares debt.

Cablecom has 1.2 million customers, 70 percent of whom are cable subscribers and the remainder users of data and phone service.

The cable operator expects sales totaling 3.9 billion pesos ($304 million) and EBITDA of 1.6 billion pesos ($125 million) in 2014. EFE