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Grupo Televisa SAB ADR TV

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1-Star Price

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Economic Moat

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Capital Allocation

PREMIUM

Televisa Posts Slightly Stronger Q2 Than Expected; Core Cable Franchise Continues to Expand

Neil Macker, CFA Senior Equity Analyst

Analyst Note

| Neil Macker, CFA |

Televisa reported a slightly better-than-expected second quarter as revenue and EBITDA came in just ahead of FactSet consensus estimates. While the content segment rebounded versus a pandemic influenced quarter last year, the new core segment of the business, cable, posted strong growth once again with 62,100 new customers in the quarter. The merger of the firm’s content business with Univision remains on schedule to be completed by the end of 2021. We are maintaining our narrow moat for Televisa and our fair value estimate of $14.

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Company Profile

Business Description

Grupo Televisa is the largest media company in the Spanish-speaking world. Besides operating broadcast channels in Mexico, the company produces pay-television channels whose content reaches subscribers in North America, Asia, Europe, and Latin America. Televisa also owns interests in satellite television, cable TV, terrestrial radio, magazine publishing, Mexican bingo parlors, and three of Mexico's professional soccer teams.

Contact
Avenida Vasco de Quiroga, No. 2000, Colonia Santa Fe
Mexico, DF, 01210, Mexico
T +52 5550225899
Sector Communication Services
Industry Broadcasting
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type —
Employees 43,215

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