Recent Updates — GRPFF

Grupo Televisa reported third-quarter 2026 net income attributable to stockholders of Ps.882.7 million, a significant turnaround from the Ps.1,932.5 million loss in the prior-year period. Revenues declined 3.8% year-over-year to Ps.14,077.7 million, driven by a 20.5% drop in Satellite Services revenue, though Enterprise Services grew 6.8%. Operating segment income rose 5.6% to Ps.5,996.0 million with an improved margin of 42.6%. Separately, the company announced it reached an agreement with AT&T to acquire its Mexican wireless business for $2 billion through a joint venture with Fintech Holdings Inc., expected to close in Q1 2027. Grupo Televisa operates cable networks and satellite pay television services in Mexico.

Grupo Televisa and Fintech Mercury have agreed to form a joint venture to purchase 100% of AT&T México, Mexico’s second-largest mobile operator, for $2 billion. The transaction is structured through an investment trust, with each partner holding a 50% economic interest. Financing will consist of up to $1.4 billion in secured debt from BBVA México and remaining equity contributions. The acquisition requires regulatory approval from the National Antitrust Commission (CNA) and other competent authorities before closing. Grupo Televisa operates cable television, broadband internet, fixed-line telephony, and direct-to-home satellite services in Mexico.

A consortium owned 50% by Grupo Televisa and Fintech Holdings Inc. has reached an agreement with AT&T, Inc. to acquire its wireless telecommunications business in Mexico for a purchase price of US$2 billion, subject to customary closing conditions including regulatory approvals. The transaction is expected to close in the first quarter of 2027. AT&T Mexico is the second-largest mobile operator in the country, holding approximately 24.7 million wireless subscribers as of December 31, 2025, and reported consolidated revenue of 85.4 billion pesos for the same period. Grupo Televisa anticipates accounting for this acquisition as an investment in a joint venture using the equity method. The company operates one of Mexico's most significant cable network groups and leading direct-to-home satellite pay television systems.

Grupo Televisa issued zero-coupon mandatory convertible debentures totaling $6,917,800,007.42 Mexican pesos to be converted into shares or CPOs in one year. Once converted, the resulting shares will represent 19.48% of the company's capital stock, with Fintech Latam S.á r.l. expected to hold a 22.3% stake.