Mexico's Grupo Televisa, the country's largest broadcaster, has "turned the page" on a potential merger with Mexico's Megacable after the companies could not agree on the terms, a top executive said Friday. Mexico's Megacable rejected a merger offer from Televisa last year. When asked about the negotiations in a call with analysts on Friday, Televisa's co-Chief Executive Alfonso de Angoitia said the firm was now focused on executing its own business plan.
Mexico's Grupo Televisa, the country's largest broadcaster, plans to invest some $820 million in 2023, one of the company's top executives said Friday. Around $620 million will go to cable TV services, while some $160 million will go to Televisa's satellite unit Sky and another $40 million will go to other units, Televisa's co-Chief Executive Alfonso de Angoitia said in a call with analysts.
Televisa said in its statement that it saw losses partially related to depreciation in the value of the TelevisaUnivision venture recognized in the quarter. Sky, Televisa's satellite TV unit, had about 410,400 disconnections of revenue generating units (RGUs), and sales in the quarter decreased by 8.1% which the company said was explained by "the year-on-year decline in RGUs and lower recharges at Sky's prepaid packages." Televisa has tried to revamp Sky, launching a new mobile service with AT&T in July which executives said would boost the unit's revenue in the coming years.