Grupo Televisa, S.A.B. (GRPFF)
- Reuters
Televisa to merge its satellite TV, cable units 'as soon as possible'
MEXICO CITY (Reuters) -Mexican broadcaster Televisa plans to merge its satellite TV unit Sky with its cable TV and internet service Izzi as soon as possible, the head of the new unit said on Friday. Televisa is aiming to trim its financial expenses, and Izzi has had trouble staying competitive in recent quarters. Francisco Valim, who will run the unit, said the combination will help Televisa to optimize the two business by allowing it to "homogenize regions, sales channels, (and) commission frameworks and better manage the customer base."
- Reuters
UPDATE 2-Televisa to merge its satellite TV, cable units 'as soon as possible'
Mexican broadcaster Televisa plans to merge its satellite TV unit Sky with its cable TV and internet service Izzi as soon as possible, the head of the new unit said on Friday. Televisa is aiming to trim its financial expenses, and Izzi has had trouble staying competitive in recent quarters. Francisco Valim, who will run the unit, said the combination will help Televisa to optimize the two business by allowing it to "homogenize regions, sales channels, (and) commission frameworks and better manage the customer base."
- Reuters
UPDATE 2-Mexico's Televisa swings to $58 mln profit, but revenue underperforms
Mexico's largest broadcaster Televisa reversed losses in the first quarter, swinging to a profit after a favorable exchange rate and smaller debt burden helped cut financial expenses by nearly half, the company said on Thursday. Net profit reached 951.8 million pesos ($57.6 million) in the January-to-March period, from the 788.9 million peso loss in the same quarter last year, Televisa reported in a filing to Mexico's stock exchange. During the quarter, company revenue fell about 5% from the year before to total 15.95 billion pesos, but below the 16.87 billion pesos expected by analysts polled by LSEG.
