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Venezuelan media honcho Gustavo Cisneros is poised to buy out Rupert Murdoch's 25% stake in Antena 3 TV, according to press reports Friday.

Cisneros heads one of the most important groups in Latin America, with controlling interests in Televisa, Venevision, Radiovision, and production and rights group Television Latina.

According to sources, Cisneros has been trying to enter Spanish TV for several months. Apparently, he was first negotiating for the Javier De la Rosa shares at Tele Cinco, which went to the Kirch group.

Tele Cinco was only willing to negotiate a 10% stake at the time, and Cisneros wanted more.

If the deal goes through with Antena 3, Murdoch's entire stake will go to Cisneros. Murdoch had originally entered Antena 3 with a 12.5% interest, which was expanded to 25% with a recent capital increase at the web.