UPDATE 1-Mexico's Televisa says in talks on combination of some content with Univision

(Updates with quote, background on merger reports)

MEXICO CITY, March 24 (Reuters) - Grupo Televisa, Mexico’s largest broadcaster, said in a statement on Wednesday it is moving ahead with talks on the possibility of a combination of “certain content assets” with Univision, the largest Spanish-language U.S. broadcaster.

Televisa also denied earlier media reports that it was in talks about a merger with Univision, in which it owns a 36% stake. The company said no transaction on content assets, timing nor terms of any accord were certain to be finalised.

Televisa did not say which content assets were under discussion.

“We are not in discussions regarding a merger between Grupo Televisa and Univision Communications, Inc. The companies have sought to find ways to work more closely together over the past several years in an effort to broaden their longstanding successful partnership,” Televisa said.

A representative for Univision did not immediately respond to a request for comment.

Televisa distributes exclusive content to Univision, including its signature soap operas, known as ‘telenovelas’, for the broadcaster’s Spanish-speaking viewers in the United States.

Searchlight Capital Partners and ForgeLight completed a majority stake purchase of Univision at the end of last year. Televisa maintained its minority stake and its programming license agreement with the company. (Reporting by Cassandra Garrison; Editing by Christian Schmollinger and Kenneth Maxwell)