GRUPO TELEVISA, S.A.B. Business Summary

Grupo Televisa, S.A.B. operates as a leading telecommunications and media conglomerate in Mexico, primarily generating revenue through its Cable (Izzi) and Satellite (Sky Mexico) segments. Following the 2024 acquisition of AT&T’s stake in Sky Mexico, the company consolidated its position as the nation's sole satellite-TV provider while expanding its high-speed broadband and telephony footprint via Izzi’s fiber-optic network. The company’s business model shifted significantly after merging its content assets into TelevisaUnivision, in which it retains a 43% equity stake, and spinning off its sports and gaming assets into the separate entity Ollamani. Primary competitors include América Móvil (Telmex/Telcel), Megacable, and Totalplay; Televisa remains the dominant player in the Mexican pay-TV market but faces intense infrastructure competition from América Móvil in the broadband and mobile sectors. The company is managed by Co-Chief Executive Officers Bernardo Gómez Martínez and Alfonso de Angoitia Noriega, who have led the firm’s strategic pivot toward telecommunications and the landmark Univision merger. Founded by the Azcárraga family in 1973, the firm is currently overseen by the Co-CEOs alongside Corporate Vice President of Finance Carlos Phillips Margain. Emilio Azcárraga Jean, the third-generation leader, remains the principal shareholder but stepped down as Executive Chairman in late 2024 amid a U.S. Department of Justice investigation into FIFA-related broadcasting rights. In early 2026, Azcárraga further restructured the firm’s governance by selling a minority stake to the Co-CEOs, aligning management interests with long-term value. Key institutional and private investors include David Martínez’s Fintech Advisory, Dodge & Cox, and Eduardo Tricio Haro, who recently acquired a significant 7.2% stake, providing a diversified board structure that balances legacy family control with institutional oversight.