By Aida Pelaez-Fernandez
MEXICO CITY (Reuters) -Mexico’s largest broadcaster, Grupo Televisa, decreased 2025 capital spending on Wednesday, reducing it to $600 million from $665 million.
Televisa’s Co-Chief Govt Alfonso de Angoitia mentioned on a name with analysts that negotiations with suppliers had resulted in additional favorable phrases for the corporate.
“Whereas we anticipate CAPEX deployment to speed up in the course of the second half of the yr, we’re slicing our CAPEX price range,” Angoitia mentioned.
Following the decision, shares on this planet’s greatest producer of Spanish-language content material have been up 3.3%, paring earlier good points of as a lot as 7.6%.
Televisa’s inventory has surged over 30% year-to-date, with Wednesday’s achieve alone including 820.4 million pesos ($44.18 million) to the corporate’s market capitalization.
On Tuesday, the broadcaster reported internet revenue of 474.5 million pesos for the second quarter, rebounding from a 25.6-million peso loss one yr in the past.
The quarterly revenue was largely supported by decrease prices, regardless of a fall in subscriptions, notably for Televisa’s satellite-TV unit, SKY.
“Via 2025, we anticipate the broadcaster to take care of fixed challenges in each the cable and Sky segments, however with a much less antagonistic situation by way of inflation and comparable bases,” analysts at brokerage Monex mentioned.
SKY had about 350,000 disconnections and a 16.3% dip in income in the course of the second quarter, whereas the cable section registered a income drop of two.5% year-over-year.
The corporate’s income totaled 14.73 billion pesos, a 6% lower from the identical interval final yr. Nevertheless, Angoitia added that income remained unchanged when excluding the impression of the Mexican peso’s depreciation.
The peso weakened 2.6% from the top of June final yr to the top of June this yr.
($1 = 18.5705 Mexican pesos)
(Reporting by Aida Pelaez-Fernandez; Extra reporting by Noe Torres; Modifying by Natalia Siniawski, Brendan O’Boyle, Rod Nickel)
