Emilio Azcárraga Jean leaves the presidency of Televisa in the middle of the FIFA Gate

Last year, the firm had reached a $95 million deal to resolve a lawsuit from an American investor who accused it of bribing FIFA soccer officials to win the rights to four World Cup tournaments.

Televisa denied at the time that it had acted wrongly by agreeing to reach an agreement. But now the company has not offered further details of the investigation.

Televisa reports a drop in its income

Grupo Televisa had a mixed performance in the third quarter of 2024 due to Sky. The media and telecommunications company reported a 6.4% drop in its sales, obtaining 15,362 million pesos compared to the 16,416 million pesos it obtained in the same period last year.

The company attributed the decrease in its income to the performance of Sky, its satellite connectivity firm, which had a decline in sales of 13.2%.

Since last year the company began a restructuring of its companies, but in this semester it has focused its attention on the Sky asset to unite it with Izzi in order to give life to a new player in the fixed segment. This plan has involved massive layoffs.

Francisco Valim, CEO of Izzi and Sky, for example, revealed, in a conference with analysts in April of this year, that the structural integration of Izzi with Sky contemplated eliminating up to 16% of the satellite television company’s workforce.

The structural integration of both assets will allow operational savings of up to 400 million pesos towards the second semester, as revealed by Televisa in a conference with analysts on the occasion of its financial results for the first quarter.

However, the company is slowly beginning to change its operational perspective. In the third quarter of this year, it reversed the profit loss, reporting a net profit of 666.5 million pesos, the result of which was motivated by a decrease in expenses and taxes.

While its operating flow (EBITDA, for its acronym in English) registered 5,336 million pesos, which means an increase of 4.4%.