THE FUTURE
THE FUTURE
THE FUTURE
of digital
entertainment
2021 ANNUAL REPORT
C O N T E N T S
02 This is Televisa
04
Letter to Shareholders
08 Financial highlights
10
Cable
12
Sky
14
Content
16 Other businesses
18
TelevisaUnivision
20 Commitment to sustainability
22 Fundación Televisa
24 Board of Directors
Unless expressly stated otherwise, the information included in this report is as of December 31, 2021 and reflects the Company’s
operations and businesses as of such date. Some information, especially such related to the Content segment, has materially
changed since then as a result of the completion of the transaction described in the TelevisaUnivision section.
Grupo Televisa S.A.B. (“Televisa”) is a major telecommunications
corporation which owns and operates one of the most significant
cable companies as well as a leading direct-to-home satellite pay
television system in Mexico.
Televisa’s cable business offers integrated services, including video,
high-speed data and voice to residential and commercial customers as
well as managed services to domestic and international carriers. Televisa
owns a majority interest in Sky, a leading direct-to-home satellite pay
television system and broadband provider in Mexico, operating also in
the Dominican Republic and Central America.
Televisa holds a number of concessions by the Mexican government
that authorizes it to broadcast programming over television stations for
the signals of TelevisaUnivision, Inc. (“TelevisaUnivision”), and Televisa’s
cable and DTH systems. In addition, Televisa is the largest shareholder
of TelevisaUnivision, a leading media company producing, creating,
and distributing Spanish-speaking content through several broadcast
channels in Mexico, the US and over 60 countries through television
networks, cable operators and over-the-top or “OTT” services. Televisa
also has interests in magazine publishing and distribution, professional
sports and gaming.
1
This is
TELEVISA
CABLE
SKY
Televisa is one of the most
important participants in
Mexico’s telecom industry
DIVISIONS
Multiple System Operators
(“MSOs”) division which offers
video, high-speed data, voice and
mobile services to residential and
commercial customers, including
small and medium sized businesses.
Enterprise
Provides telecommunications
services, including voice, data,
managed services, as well as
integration and cloud services to
domestic and international carriers
and to enterprise, corporate, and
government customers in Mexico
and the United States.
Revenue Generating Units ("RGUs")
Video
Broadband
Voice
Mobile
4,166,460
5,649,102
4,617,265
156,051
Total RGUs
14,588,878
A leading direct-to-
home satellite television
system and broadband
provider
Operates in Mexico, Central
America and the Dominican
Republic.
58.7% interest owned by Televisa.
Sky offers pay-TV packages,
including exclusive content that
ranges from sports to concerts
and special events, as well
as fixed- wireless broadband
services with speeds ranging
from up to 20 Mbps.
Revenue Generating Units
Video
Broadband
Voice
MVNO
7,408,075
727,226
601
30,266
Total RGUs
8,166,168
CONTENT
In 2021, Televisa produced
around 87,000 hours
of content free to air
television and pay-TV
Advertising
Televisa operates four broadcast
channels –2, 4, 5, and 9– in Mexico
City and complements its geographic
coverage through affiliated stations
throughout the country. Televisa
also sells advertising on its pay-TV
networks and online properties.
Network Subscription
Televisa produces and distributes
27 pay-TV brands. In 2021, Televisa
produced more than 19,000 hours of
content for pay-TV networks.
Licensing & Syndication
Televisa exports its programs and
formats to television networks
around the world. In the United
States, Televisa distributes its
content through Univision under a
Program License Agreement (“PLA”).
This year, the PLA resulted in royal-
ties to Televisa of U.S.$417.8 million.
Other
businesses
Gaming
Casino sites and online
lottery business.
Publishing Distribution
Distributes publications in
Mexico and Latin America.
Feature Film Distribution
Distributes movies in Mexico
and Latin America.
Publishing
A leading Spanish-language
magazine publisher.
Soccer
First division soccer team
of the Mexican league and
owner of Azteca stadium,
located in Mexico City.
2
TELEVISATELEVISA
Sales
Contribution
43.3% Cable
32.4% Content
19.8% Sky
4.5% Other
Businesses
OSI*
Contribution
46.6% Cable
31.7% Content
19.6% Sky
2.1% Other
Businesses
* Operating segment income (OSI) is defined as operating income before corporate expenses depreciation, and amortization, and other expense, net.
For a reconciliation of operating segment income with consolidated operating income, see Note 26 to our year-end consolidated financial statements.
Unconsolidated businesses
TelevisaUnivision
Since completion of the merger between Televisa’s media,
content and production assets with Univision on January 31st,
2022, Televisa is the largest shareholder of TelevisaUnivision
with an equity stake of approximately 45%. As the leading
Spanish-language media and content company in the world,
TelevisaUnivision features the largest library of owned content
and industry-leading production capabilities that power its
streaming, digital and linear television offerings, as well as its
radio platforms.
3
January 2022
Dear Shareholders
On January 31st, 2022, we effectively closed the transformative merger of
Televisa’s media and content business with Univision, nearly one year after
announcing the transaction. This transformational combination created Televi-
saUnivision, the world’s leading Spanish-language media and content company
that is unparalleled in the global media landscape and will exclusively focus on
the massive market opportunity that exists with the global Spanish-speaking
audience of almost 600 million people.
We closed the
transformative merger
of Televisa’s media
and content business
In preparation for this merger, both Televisa and Univision made significant
progress transforming their businesses across all dimensions. Both teams have
built upon our brands and the deep connection with our audience to deliver
levels of viewership these two companies haven’t seen in years. Univision’s
portfolio of television networks had the highest audience share since 2014, and
Televisa’s content performance and audience delivery in Mexico was equally im-
pressive. Univision completely reinvented its ad sales business and both compa-
nies experienced above-market advertising revenue growth in 2021. And, most
importantly, we have completely transformed the organization, strengthening
our already exceptional teams.
with Univision
TelevisaUnivision is already driving towards a future that neither company could
have achieved independently. One of the most exciting outcomes of this histor-
ic merger is the creation of the largest ever Spanish-language global streaming
platform, ViX, backed by the assets and resources of TelevisaUnivision, including
its massive library of content. ViX is the first-of-its-kind global streaming prod-
uct with two very distinctive experiences, advertising video on demand (AVOD)
and subscription video on demand (SVOD), all in one single app, easily accessi-
ble for everyone across all major platforms in the U.S., Mexico and 19 countries
across the rest of Latin America. The benefit of having 2 tiers in one app is that
we will be able to upsell our premium service to AVOD users, while SVOD sub-
scribers will seamlessly be able to enjoy these two distinctive experiences, each
with its own unique content.
Bernardo Gómez
Co-Chief
Executive Officer
Alfonso de Angoitia
Co-Chief
Executive Officer
4
In 2021, we far exceeded our initial growth
expectations, and our prospects for 2022
look equally as impressive
We are very excited about TelevisaUnivision’s achievements
since announcing the merger and look forward to sharing
with you our future success. In 2021, we far exceeded our
initial growth expectations, and our prospects for 2022
look equally as impressive.
BUSINESS PERFORMANCE
The Company’s operating performance during 2021 was
solid, driven by four operational pillars: (1) turning around
advertising revenue growth at our Content segment; (2)
expanding our fiber-to-the home (FTTH) footprint at our
Cable segment; (3) maintaining our pay-TV market share at
Sky; and (4) turning around our Other Businesses segment.
CABLE – PASSED 2 MILLION ADDITIONAL
HOMES WITH FTTH
In 2021, we successfully achieved our plan to pass 2 million
homes with FTTH. We closed the year with approximate-
ly 17.9 million homes passed with our network, of which
approximately 65% are connected either with fiber-to-the-
node or fiber-to-the-home. The investments that we have
made over the last few years have been paying off and have
allowed us to keep up with the increase in demand for high-
speed broadband.
Our Cable business had a good year in terms of RGU net
additions despite having tough comps due to the record
number delivered in 2020 driven by the COVID-19 lock-
downs. We reported 501 thousand RGU net additions of
video, broadband, voice, and mobile subscribers, ending
2021 with 14.6 million total RGUs. This result was largely
driven by both the realignment of some flagship products,
as well as the homes-passed expansion plan we implement-
ed throughout the year, launching the service in the cities
of Guadalajara, Toluca, Durango, Mazatlán, and Tepic. Our
cable business continues to grow due to our higher sales
levels and an improved product mix, which also brings a
higher average revenue per user (ARPU).
In 2021, we delivered consistent revenue and operating
segment income growth of 5.8% and 7.3%, respective-
ly. We remain excited about future opportunities in this
business, driven mainly by the ongoing expansion of our
footprint. Our Enterprise business also continues to build
scale, growing sales and operating segment income by
7.2% and 6.2%, respectively, during the year.
SKY – MARGIN PRESSURE GIVEN
COSTS OF SPORTING RIGHTS
2021 was a challenging year for Sky, driven by lower
recharges of prepaid packages due to a decline in home
confinement related to the COVID-19 pandemic, and the
amortization of certain sporting events that were canceled
in 2020 due to the pandemic.
RGUs remained relatively stable, with net additions of 22
thousand for the full year. Sky experienced some video
disconnections in 2021, but its market share remained
mostly unchanged. Moreover, the video disconnections
were fully offset by RGU net additions of broadband and
mobile subscribers. We closed the year with approximate-
ly 8.2 million RGUs, of which 8.9%, or 727 thousand, are
broadband subscribers.
The above-mentioned factors led Sky’s revenue and
operating segment income to fall by 0.5% and 6.9% year-
on-year in 2021, reaching an operating segment income
margin of 38.6%.
14.6 million
Cable RGUs
5
In 2022, we will have non-recurring costs and expenses
of approximately $60 million dollars related to transmis-
sion rights and production of the World Cup in Qatar. We
expect the rest of Sky’s costs and expenses to remain at
similar levels to those of 2021 in real terms.
We will continue seeking new ways to provide more value
to our broadband subscribers. We also keep innovating on
the video offer. We are committed to developing other
pay-TV and telecom offers to maintain the resilience and
profitability of this business.
CONTENT – STRONG INFLECTION
IN ADVERTISING REVENUE
Our Content segment had impressive operating perfor-
mance in 2021. Last year, the top 20 programs on Mexico’s
broadcast television were produced and transmitted by
Televisa, including telenovelas, dramas, newscasts, and
comedies. Televisa’s top three programs during 2021 had
audiences between 63% and 73% higher than the top-rat-
ed program of our closest competitor.
Throughout the week, Televisa’s audiences were 91% higher
than those of the second largest broadcaster, while audienc-
es at our flagship network Las Estrellas were 154% higher
than those of our closest competitor. During 2021, our main
newscast had 43% higher audiences than those of the other
two free-to-air TV broadcasters combined. Finally, in 2021,
Televisa transmitted eight out of the ten soccer matches
with the highest audiences in Mexico. Our strong audience
performance has been driven by the strategic plan imple-
mented three years ago to improve and reinvigorate our
content creation and production capabilities.
Our Content segment delivered strong financial results
during the year, growing revenue by 10.2% and operating
segment income by 11.5% year-on-year. This was mainly
due to an increase in Advertising sales of 17.2%, as the
economic rebound has driven up marketing activity and
advertising spending across our private sector customers.
Most of our clients are looking to position their brands,
products, and services in front of consumers and Televisa’s
solid ratings during 2021, particularly on Prime Time, pro-
vided a significant advantage.
Regarding our upfront, we are pleased to say that our
negotiations with our customers were successful. We
estimate that advertising deposits increased by 12.8%
year-on-year, representing the best upfront performance
in Televisa’s history. We are optimistic that this will help
sustain a solid pace of advertising revenue growth in 2022.
UNIVISION – ONGOING DIGITAL
TRANSFORMATION STRATEGY
2021 was a defining year for Univision, after Searchlight
and ForgeLight concluded the acquisition of a majority
ownership interest in the company. The strategy for 2021
was to optimize the enormous potential of Univision’s
core business, and at the same time, leverage the power-
ful assets of the company to build a new business for the
future. Together with our new partners, we immediately
rebooted the organization to execute this strategy, and
over the course of the year, we completely reinvented Uni-
vision. This culminated in the most significant chapter of
Univision’s transformation – the closing of the merger with
Televisa’s media and content business to create the world’s
leading Spanish-language media and content company:
TelevisaUnivision.
In 2021, Univision reported some of the best financial
results the company has seen in years. For the first time
since 2016, Univision delivered both revenue and EBITDA
growth, of 11.8% and 5%, respectively. This growth more
than offsets our investment in the launch of PrendeTV
and the massive pre-launch preparation for the largest
ever Spanish-language global streaming platform, ViX.
FOCUS ON ESG IS A PRIORITY
At Televisa, we understand our role in serving society.
We believe that adopting sustainable business practices
is critical to generate long-term value for our customers,
employees, shareholders, and communities. ESG is a high
priority to Televisa and an important component of its
business strategy. We are committed to developing and
implementing initiatives to impact our environment and
society positively.
6
We believe that adopting sustainable business
practices is critical to generate long-term value for our
customers, employees, shareholders, and communities
During the fourth quarter of 2021, MSCI upgraded Televi-
sa rating to BBB, after remaining at a B rating for a year.
MSCI is a leading provider of critical decision support tools
and services for the global investment community.
expansion of our FTTH footprint. We believe that the
growth in selective locations makes sense for izzi, given
our nationally recognized brand, exclusive content, and
high-quality service with competitive offers.
Also, for the fifth consecutive year, the Company has been
selected as a member of the 2021 Dow Jones Sustainabil-
ity MILA Pacific Alliance Index, which measures best-in-
class companies among members of the S&P MILA Pacific
Alliance Composite that fulfill certain sustainability criteria
better than the majority of their peers within a given indus-
try. In addition, Televisa was selected as one of only four
Mexican companies in the 2021 Dow Jones Sustainability
Emerging Markets Index. This year, Televisa’s Corporate
Sustainability Assessment score increased, demonstrating
the Company’s strong commitment to making sustainability
an important component of its business strategy.
The Dow Jones Sustainability Indices are a family of best-
in-class benchmarks for investors who recognize that
sustainable business practices are critical to generating
long-term shareholder value and wish to reflect their sus-
tainability convictions in their investment portfolios.
Throughout 2021, Televisa’s many sustainability efforts
continued to be recognized globally. For example, the
Company was included in three FTSE4Good Index Series:
FTSE4Good Emerging Markets, FTSE4Good Emerging Latin
America, and FTSE4Good BIVA. Televisa was also selected
as a constituent of the ESG index, launched by S&P, Dow
Jones, and the Mexican Stock Exchange. Finally, Televisa
was confirmed as a United Nations Global Compact signato-
ry, the world’s largest corporate sustainability initiative.
At Sky, we expect to continue generating strong cash
flow, enhancing our broadband services, and focusing on
aggregating value to our packages. We expect 2022 to be
challenging due to the non-recurring costs and expens-
es related to transmission rights and production of the
World Cup. However, we expect this to be offset in 2023.
In Content, TelevisaUnivision is committed to delivering
compelling original content produced in the Spanish
Language. Between ViX and ViX+, in our first year alone,
we will have an unprecedented offering of more than
50,000 hours of free and paid premium content. In the
subscription service specifically, we will launch at least
one high-quality new movie or series every week for the
entire first year.
We feel privileged to be leading the Company through
this digital transformation. Most importantly, we are very
thankful to all employees at Televisa for their persistent
dedication to continue informing and entertaining our
audiences, and providing the high-quality video, voice and
broadband services that our customers need and expect.
We are thankful to our audiences that have been loyal
viewers of our content. We are also thankful to our part-
ners at TelevisaUnivision for their unwavering support to
implement growth initiatives and the digital transforma-
tion we have begun.
READY TO KEEP DELIVERING IN 2022
2022 has begun with its own set of challenges, with exac-
erbated concerns on inflationary pressures. However, we
are well-prepared for the future and well-positioned to
execute on our priorities and strategic initiatives.
In Cable, we have laid the groundwork to achieve sus-
tainable growth in the medium term by accelerating the
We have an incredibly strong and dedicated board of
directors working for the benefit of Grupo Televisa and its
stakeholders, and we are grateful for their many contribu-
tions and thoughtful advice during 2021.
To our shareholders, we want to extend our appreciation
for your continued confidence in our vision and in our
long-term prospects.
Bernardo Gómez
Alfonso de Angoitia
Co-Chief Executive Officers
7
FINANCIAL
In millions of Mexican pesos, except per
CPO amounts and shares outstanding
2021
2020
Chg.%
Consolidated net sales
Operating-segment income1
Segment margin
Operating income
Margin
Controlling interest net
Earnings per CPO
103,522
43,476
39.2%
22,177
21.4%
6,056
2.17
97,362
40,511
38.8%
6.3%
7.3%
17,525
26.5%
18.0%
(1,250)
584.3%
(0.44)
Shares outstanding at year-end (in millions)
329,296
325,993
Cash and cash equivalents at year-end
Non-Current investments in financial instruments
Total debt at year-end
25,828
4,463
125,792
29,058
(11.1)%
6,533
(31.7)%
122,553
2.6%
1 Operating segments income (OSI) is defined as operating income before corporate expenses, depreciation and amortization, and
other income (expense), net. For a reconciliation of operating segment income with operating income, see Note 26 to our year-end
consolidated financial statement.
8
FINANCIALFINANCIAL HIGHLIGHTS
.
8
1
0
1
.
3
1
0
1
.
4
7
9
.
5
3
0
1
.
3
6
9
.
3
4
9
.
1
8
8
.
7
0
4
.
0
1
4
.
5
0
4
.
5
3
4
.
7
5
3
.
9
8
3
.
5
7
3
.
3
2
3
.
9
9
2
.
4
8
2
.
1
0
8
.
8
3
7
.
3
9
6
12
13
14
15
16
17
18
19
20
21
12
13
14
15
16
17
18
19
20
21
Consolidated
net sales
in billions of pesos
(as reported)
4.1%
Compound Annual
Growth Rate
Operating
segment income
in billions of pesos
(as reported)
4.4%
Compound Annual
Growth Rate
9
HIGHLIGHTSHIGHLIGHTS During 2021, our Cable segment reached
14.6 million RGUs, improving service
quality and offering attractive video,
voice, broadband and mobile packages
CABLE
10
CABLECABLE +500
thousand RGUs
added
Televisa’s Cable business offers cable and convergent services across 28
states in Mexico, covering the main metropolitan areas of the country.
During the year, we had an aggressive growth program in which we ex-
panded our footprint by more than 2 million homes, reaching more than
17.9 million homes passed in the country.
Our network is up to cable industry standards, combining traditional hy-
brid fiber-coaxial, fiber deep, and deployments of Gigabit Passive Optical
Networks (GPON).
Internet Protocol Access and Large-Scale Core networks are in place and
Voice over IP Cores is placed in several regions to support telephony traf-
fic for residential and enterprise customers. We are able to deliver up to
100 megabits of speed per second in a large portion of homes passed.
Revenues for our Cable segment grew by 5.8% in 2021 and we added
more than 500 thousand RGUs.
We are the main aggregator of Over the Top platforms in Mexico. During
2021, we continued to add new OTT services into our packages including
Star+, Paramount +, HBO Max, among others, strengthening our product
suite. In addition, we continue to deploy our state of the art Android TV
set-top boxes.
Our mobile service (izzi Móvil), with its disruptive pricing and services,
has continued to grow, reaching more than 156 thousand subscribers.
5.8%
Revenue
grow
17.9
million homes
passed
11
SKY
Our broadband offer continued building
scale and we kept offering the best
content and exclusive sports through
different packages and platforms
12
SKYSKY 8.2
million
RGUs
Sky is our direct-to-home (DTH) satellite television and fixed wireless
broadband operation. Through its pay-TV packages, it reaches every
corner in Mexico, plus the Dominican Republic and Central America.
Sky offers pay-TV packages, including exclusive content that ranges
from sports to concerts and special events, as well as fixed-wireless
broadband services with speeds ranging from up to 20 Mbps. Sky re-
mains as one of the most successful pay-TV operations in the region,
with around 8.2 million RGUs.
We continued expanding broadband services Sky reached 727 thou-
sand broadband RGUs by the end of 2021, adding a total of 61 thou-
sand in one year.
Sky continues innovating on new platforms and has launched Blue
To Go Sports, an Over-The-Top platform that offers the possibility to
consumers to access exclusive sport content without subscribing to
any other package. This content includes the Premier League, La Liga,
the NHL, among other, and can be access through any device.
727
thousand
broadband RGUs
by the end of 2021
13
The top 20 most watched programs
in Mexico were produced and
transmitted by Televisa
CONTENT
38.3%
Maintained
strong OSI
margin
ADVERTISING
During 2021, advertising sales posted an increase of 17.2%, mainly ex-
plained by an improving economic environment in which activity from
the private sector remained very strong.
With four free-to-air channels in Mexico City –2, 4, 5, and 9– which Tele-
visa operates with a combination of owned and affiliated network sta-
tions throughout Mexico, a strong portfolio of pay-TV networks, and new
media platforms, Televisa is one of the largest providers of advertising
alternatives in the Mexican market.
14
CONTENTCONTENT blim tv
blim tv is Televisa’s over the top (“OTT”) platform. With over 37
thousand hours of content and 42 linear channels for SVOD (sub-
scription video on demand), and over 18 thousand hours of content
and 8 linear channels for AVOD (Advertising video on demand), is
the premier Spanish-language platform in Mexico.
It currently provides access to Televisa’s extensive library,
complemented with content from other major producers, like,
Univision, Telemundo, Videocine, Sony, Atresmedia, RTVE,
Paramount, Mediapro and many others.
NETWORK SUBSCRIPTION
Televisa Networks is one of the most successful producers and dis-
tributors of content for pay-TV platforms in Mexico.
We are one of the world’s leading producers of original Spanish-lan-
guage content for pay-TV platforms. We commercialize 27 pay-TV
brands through 65 domestic and international feeds, which reach
over 46 million subscribers around the world.
Over the years we have assembled a portfolio of channels for pay-TV
that improve every day. Televisa’s pay-TV networks continue to be
among the most watched networks on pay- TV platforms in Mexico.
LICENSING AND SYNDICATION
Televisa keeps successfully exporting innovative content around the
world, as well as creating alliances with new partners.
In the United States, through our Program License Agreement
(“PLA”) with Univision, we reach a very important demographic in
the Spanish-speaking world: the Hispanic market.
Our PLA grants Univision exclusive access to most of our audiovi-
sual content in any format for distribution in the United States. In
exchange, we currently receive a royalty payment of 16.45% on
substantially all of Univision’s Spanish-language audiovisual revenue.
In 2021, we received U.S.$417.8 million in the form of royalties from
Univision. Televisa’s content has been distributed globally for many
decades and has an enduring base of followers beyond Mexico and
the United States. During 2021, we exported over 43 thousand
hours of our original programming to more than 60 countries.
15
U.S.
$417.8
million received
in the form of
royalties from
Univision in 2021
Other
BUSINESSES
GAMING
PlayCity Casino includes 18 locations across the country with over 7 thousand
Electronic Gaming Machines and a fully new Online offering. Our product
portfolio includes the best and most modern video reels and bingo games,
as well as the widest sportsbook in Mexico.
16
BUSINESSESBUSINESSES 18
PlayCity Casino
sites across
the country
During 2021, PlayCity continued to operate under the
guidelines mandated by the authorities, such as limited
capacity policies, social distancing measures and smoking
bans. Revenue and operating margin started to show
good signs of recovery thanks to a strict cost control and
expenses scheme. Although still difficult to predict the
end of the pandemic, the organization will keep the high
operating and service standards to recover the pre-COVID
visits and sales levels as fast as possible.
PUBLISHING
During 2021, Televisa published 32 magazine titles in Mex-
ico. These titles cover a wide variety of consumer interests
from health, beauty, fashion, pop culture, technology,
travel, and science.
Some of our titles aim to capitalize on the success of Tele-
visa’s audiovisual content and to engage with our audienc-
es at a deeper level.
As a result of structural challenges in the publishing indus-
try, we continue to focus our efforts on a multiplatform con-
tent generation (print & digital) for our profitable brands.
32
magazine titles
published in
Mexico
17
The world’s leading Spanish-language
media and content company
TELEVISA
UNIVISION
18
UNIVISIONTELEVISAUNIVISIONTELEVISA Since completion of the merger between Televisa’s media, content
and production assets with Univision on January 31st, 2022, Televisa
is the largest shareholder of TelevisaUnivision with an equity stake
of approximately 45%. As the leading Spanish-language media and
content company in the world, TelevisaUnivision features the largest
library of owned content and industry-leading production capabili-
ties that power its streaming, digital and linear television offerings,
as well as its radio platforms.
The Company’s media portfolio includes the top-rated broadcast net-
works Univision and UniMás in the U.S. and Las Estrellas and Canal
5 in Mexico. TelevisaUnivision is home to 36 Spanish-language cable
networks, including Galavisión and TUDN, the No. 1 Spanish-language
sports network in the U.S. and Mexico.
With the most compelling portfolio of Spanish-language sports rights
in the world, TelevisaUnivision has solidified its position as the Home
of Soccer. TelevisaUnivision also owns and manages 59 television sta-
tions across the U.S. and four broadcast channels in Mexico affiliated
with 222 television stations, Videocine studio, and Uforia, the Home
of Latin Music, which encompasses 57 owned or operated U.S. radio
stations, a live event series and a robust digital audio footprint.
TelevisaUnivision is home to premium streaming services PrendeTV
and Blim TV, which altogether host over 50,000 hours of high-quality,
original Spanish-language programming from distinguished produc-
ers and top talent, and the upcoming two-tier global streaming plat-
form ViX. The Company’s prominent digital assets include Univision.
com, Univision NOW, and several top-rated digital apps. For more in-
formation, visit televisaunivision.com
19
Commitment to
SUSTAINABILITY
We focus on managing our environmental, social,
grams. We have also set ecological goals, including
and corporate governance (ESG) performance as
clean energy generation, reduced energy usage, re-
we broadcast spanish-language content through
duced water consumption, waste generation, and
the most relevant platforms, and leverage our
circular economy strategies. These goals align with
extensive telecommunications infrastructure to
international best practices and initiatives like the
provide entertainment and connect people. In
United Nations Sustainable Development Goals.
addition, we seek to create a consistent, trans-
parent, and comparable ESG reporting system to
keep our stakeholders informed.
We also focus on improving our social performance.
Growth of our employees is an important topic for
us. We further enhance careers with training pro-
We recognize the importance of addressing cli-
grams (ethics, anti-corruption, human rights, cyber-
mate-related challenges. As a result, we have com-
security, and data protection), performance evalua-
mitted to decreasing our environmental impact
tions, and additional benefits. We are committed to
and greenhouse gas emissions through targeted
offering stable labor conditions to our employees
initiatives, training, and emissions reduction pro-
by respecting their human and collective rights and
20
SUSTAINABILITYSUSTAINABILITY providing a working environment that enables
•
FTSE4Good BIVA Index.
them to improve their performance and increase
their engagement.
Additionally, we focus on achieving local commu-
nity engagement through assessment and plan-
ning, to understand their potential, expectations,
and needs. We create opportunities in education,
culture, entrepreneurship, health, and environ-
mental protection to improve communities and
help build better and more sustainable societies
through our social programs.
In 2021, our sustainability achievements resulted
from a continuous improvement of policies and
programs to improve the Company’s performance.
Televisa’s sustainability efforts were acknowl-
edged globally throughout the year. For example,
the Company was ratified for the following:
• Dow Jones Sustainability MILA Pacific Alliance
Index.
• Dow Jones Sustainability Emerging Markets In-
dex. The Company was selected as one of only
five Mexican companies.
•
•
FTSE4Good Emerging Markets Index.
FTSE4Good Emerging Latin America Index.
• Bloomberg Gender-Equality Index. The Company
was selected as one of only five Mexican companies.
•
S&P/BMV Total Mexico ESG Index, an ESG index
launched by S&P, Dow Jones, and the Mexican Stock
Exchange.
• United Nations Global Compact, the world’s largest
corporate sustainability initiative.
• Distintivo Empresa Socialmente Responsable 2021
(2021 Socially Responsible Company recognition),
for the fourth consecutive year. This recognition
is granted by Centro Mexicano para la Filantropía
(Mexican Center for Philanthropy), and Alianza por la
Responsabilidad Social Empresarial (Alliance for the
Social Responsibility of Businesses).
• Merco’s Mexican ranking of the companies with
the best Social Responsibility and Corporate Gover-
nance. Televisa ranked first in its sector.
•
Latin American Sustainable Leaders Agenda (ALAS20).
Televisa was nominated as ‘Leading Company in Sus-
tainability’, ‘Leading Company in Corporate Gover-
nance’, and ‘Leading Company in Investor Relations’.
To summarize, we perceive our sustainability strategy
as a commitment to improving the lives of the people
we serve while contributing to our growth.
21
Fundación
TELEVISA
In a challenging 2021, Fundación Televisa (or “Fun-
dación”) was committed to helping those most in need.
As a result, in 2021, we were able to impact the lives
of 757,565 children and adults in both Mexico and the
United States, investing (together with our allies) more
than Ps.337.8 million.
Our innovative programs in education, culture, entre-
preneurship and environmental protection provide an
empowering platform for hundreds of thousands of
people to improve their lives, transform their commu-
nities, and build better and more sustainable societies.
Our approach combines an effective leveraging of the
Company’s communication channels with state of the
art digital tools, financial support and on-the-ground
multidisciplinary teams.
We directly contributed to 11 of 17 of the United Na-
tions (“UN”) Sustainable Development Goals (“SDG”).
In 2021, we provided more than 21.5 million digital
impacts and more than 103,000 TV & radio media im-
pacts, reaching more than 48 million people on TV. At
the same time, we helped more than 26 institutions
and organizations through communication campaigns
with television spaces.
We generated more than 1.6 million followers on social
networks and more than 1.5 million people to our dig-
ital platforms.
Fundación programs work along different life stages.
Empieza Temprano focuses on early childhood devel-
opment by providing parents and families with infor-
mation and practical tips. To enhance the skills of K-12
students, Fundación has a civic values program called Va-
lores and a health and wellness program called Vida Sa-
ludable. Cuantrix teaches computer science and coding.
Technolochicas empowers young women through STEAM
(Science, Technology, Engineering, Art and Mathemat-
ics). Bécalos works to increase high school and college
completion while improving the student’s employability.
POSiBLE helps to expand high-impact innovation-driven
entrepreneurship through training, networking, resourc-
es, visibility and acceleration for high-potential startups.
In addition, Fundación’s cultural and environmental pro-
grams cut across ages serving the general public through
actions in specific locations and through digital and me-
dia spaces.
Our numbers and recognitions include the following:
• We had more than 68,000 students from public
schools and 5,400 teachers and instructors, across
Mexico, register in our Cuantrix platform to learn
basic coding skills.
• We had more than 2,390 middle-school girls
participate in Technolochicas STEAM activities in
Mexico and the United States.
• We had 37,861 recipients of Bécalos scholarships,
including 15,000 scholarships for students and
teachers developing employability competencies,
100 scholarships for students attending a pro-
gram for talented youth, and 2,000 scholarships
for women registered into STEAM training.
22
TELEVISATELEVISA • We continued our partnership with Schmidt
•
Futures and Rhodes Trust to promote their RISE
scholarship program in Mexico. This program
provides a lifetime support to exceptional teen-
agers that want to change the world.
Through our Visual Arts Cultural projects, we
promoted and exhibited our photographic and
cinematographic collection in national and inter-
national festivals and museums reaching more
than 69,344 attendees.
• We supported 10,978 entrepreneurs in develop-
ing their business models through our POSiBLE
program.
• We participated in far-reaching communication
campaigns, including “Cada Momento Cuenta”
and “Semana de la Primer Infancia” focused on
delivering messages to promote early childhood
stimulation; “Valores” which promoted civic
values and the prevention of digital violence
through the soap opera “Vencer el P@sado”,
and our “Vida Saludable” program which
promoted wellness and health, reaching more
than 6.5 million high school students through
the Mexican Secretary of Public Education’s
(Secretaría de Educación Pública) Programming
Channel “Aprende en Casa III”.
• We provided more than 58,606 parents with
practical tips weekly via SMS and our digital
newsletter through our Empieza Temprano
program.
• We provided more than 23,929 recipients with
new aid in health, nutrition, development,
dwelling, reforestation and support of women
through our “Gol por México” program.
We received the following recognitions:
• We were selected and recognized by the UN as
one of the 23 organizations that made a public
commitment to support girls and women under
the 2021-2026 goal.
•
Recognition from the UN of our Cuantrix pro-
gram as a distinguished working member for the
SDG “Quality Education.”
• Nacional Monte de Piedad awarded Bécalos for
the “Sustainable Development in Training for
Decent Work.”
•
Citibanamex’s Social Entrepreneurship 2021 was
awarded to our POSiBLE Program.
By responsibly leveraging media, talent, partnerships
and financial assets, the efforts led by Fundación
reflect the commitment of the Company. We intend
to make a strategic contribution to building a more
empowered, prosperous and democratic society
where all people have a platform to succeed.
23
Board of Directors *
EMILIO FERNANDO AZCÁRRAGA JEAN (P) 1
Executive Chairman of the Board and Chairman of the Executive Commit-
tee of Grupo Televisa. Member and Chairman of the Board of Empresas Ca-
blevisión (subsidiary of Grupo Televisa). Former President and Chief Execu-
tive Officer of Grupo Televisa. Member of the Boards of Grupo Financiero
Banamex and TelevisaUnivision. Member and Chairman of the Board of Man-
agers of Innova (subsidiary of Grupo Televisa). Member of Consejo Mexicano
de Negocios (formerly Consejo Mexicano de Hombres de Negocios) and Fun-
dacion Teletón. Member since December 1990.
SALVI RAFAEL FOLCH VIADERO ¹
Until April 2021, served as Chief Executive Officer of Grupo Televisa’s Ca-
ble Division. Member of the Board of Consorcio Ara, S.A.B. Former Chief
Financial Officer of Grupo Televisa. Former Vice President of Financial
Planning of Grupo Televisa and former Vice Chairman of Banking Supervi-
sion of the National Banking and Securities Commission. Former Member
of the Board of Directors and Former Alternate Member of the Executive
Committee of Empresas Cablevisión (subsidiary of Grupo Televisa). Mem-
ber since April 2002.
In alphabetical order:
ALFONSO DE ANGOITIA NORIEGA 1
Co-Chief Executive Officer, Member of the Executive Committee of Grupo
Televisa. Member of the Board of Empresas Cablevisión (subsidiary of Grupo
Televisa). Co-Chief Executive Officer of TelevisaUnivision Mexico. Executive
Chairman of the Board of TelevisaUnivision. Member of the Boards of Liber-
ty Latin America, Grupo Financiero Banorte and Innova (subsidiary of Grupo
Televisa). Chairman of the Board of Trustees of Fundación Kardias. Member
of the Boards of Trustees of Fundación Mexicana para la Salud, Fundación
UNAM and The Paley Center for Media. Former Executive Vice President and
Chief Financial Officer of Grupo Televisa. Member since April 1997.
JOSÉ ANTONIO CHEDRAUI EGUÍA 2
Member of the Board of Directors and Chief Executive Officer of Grupo
Comercial Chedraui, S.A.B. de C.V. Former Chief Executive Officer of the Galos
division of Grupo Comercial Chedraui, S.A.B. de C.V. Member since April 2019.
FRANCISCO JOSÉ CHEVEZ ROBELO 2
In-house advisor, co-founder and retired partner of Chevez, Ruiz, Zamarripa y
Cía, S.C., Member of the Audit Committee of Grupo Televisa. Member of the
Board of Directors and Member and Chairman of the Audit and Corporate
Practices Committee of Empresas Cablevisión (subsidiary of Grupo Televisa).
Member of the Board of Directors of Apuestas Internacionales (subsidiary of
Grupo Televisa) Former Managing Partner of Arthur Andersen & Co. (Mexi-
co). Member of the Board of Directors and Chairman of the Audit Commit-
tees of Regiomontana de Perfiles y Tubos, S.A. de C.V., Quality Tube, S.A. De
C.V. and Pytco, S.A. de C.V. Member since April 2003.
JON FELTHEIMER 2
Chief Executive Officer of Lionsgate. Former President of Columbia TriStar
Television Group, former Executive Vice President of Sony Pictures Enter-
tainment. Member of the Boards of Lionsgate, Celestial Tiger Entertainment
and Pilgrim Media Group. Member since April 2015.
JOSÉ LUIS FERNÁNDEZ FERNÁNDEZ 2
Managing Partner of Chévez, Ruíz, Zamarripa y Cía., S.C., Member of the
Audit Committee and Chairman of the Corporate Practices Committee of
Grupo Televisa. Member of the Boards of Directors of Unifin Financiera, Con-
troladora Vuela Compañía de Aviación, Grupo Financiero Banamex, Banco
Nacional de México and Apuestas Internacionales. Alternate member of the
Board of Directors of Arca Continental Corporativo. Alternate Member of
the Board of Directors and Alternate Member of the Audit and Corporate
Practices Committee of Empresas Cablevisión (subsidiary of Grupo Televisa).
Member since April 2002.
MICHAEL THOMAS FRIES 2
President and Chief Executive Officer of Liberty Global, plc. Vice Chairman
of the Board of Liberty Global, Executive Chairman of the Board of Liberty
Latin America, Member of the Boards of Directors of Lionsgate and Cable
Television Labs, Trustee of the Board of The Paley Center for Media, Chair-
man of the Board for the Biennial of the Americas, Trustee Emeritus of the
Museum of Contemporary Art Denver, Digital Communications Governor
and Steering Committee Member of the World Economic Forum. Member
of Young Presidents’ Organization. Member since April 2015.
GUILLERMO GARCÍA NARANJO ÁLVAREZ 2
Chairman of the Audit Committee and member of the Corporate Practices
Committee of Grupo Televisa. Former Chairman of the Board of Trustees
of Consejo Mexicano de Normas de Información Financiera. Former Chief
Executive Officer and Former Audit Partner of KPMG Cárdenas Dosal, S.C.
Member of the Board and the Audit Committee of Banco Nacional de
México, S.A. and Citibanamex, Casa de Bolsa, S.A., Member of the Board
of Directors, Member of the Corporate Practices Committee and Chair-
man of the Audit Committee of Grupo Posadas. Statutory Auditor of Total
Systems de México. Member of the Board and the Audit Commission of
Fundación Pro-Empleo D.F., A.C. (a non-profit organization). Member since
April 2018.
BERNARDO GÓMEZ MARTÍNEZ 1
Co-Chief Executive Officer and Member of the Executive Committee of
Grupo Televisa. Member of the Board of Empresas Cablevisión (subsidiary
of Grupo Televisa). Co-Chief Executive Officer of TelevisaUnivision Mexico.
Member of the Boards of TelevisaUnivision and Innova (subsidiary of Gru-
po Televisa). Former Executive Vice President and Deputy Director of the
President of Grupo Televisa and Former President of Cámara Nacional de
la Industria de Radio y Televisión. Member since April 1999.
CARLOS HANK GONZÁLEZ 2
Chairman of the Board of Directors of Grupo Financiero Banorte and Ban-
co Mercantil del Norte. Vice-President of the Board of Directors of Gruma.
Chief Executive Officer of Grupo Hermes. Former Chief Executive Officer
of Grupo Financiero Interacciones, Banco Interacciones and Interacciones
Casa de Bolsa. Former Deputy General Manager of Grupo Financiero Ban-
orte. Member of the Boards of Directors of Bolsa Mexicana de Valores and
Grupo Hermes. Member since April 2017.
ENRIQUE KRAUZE KLEINBORT 1
Chief Executive Officer, Chairman of the Board of Directors and Founder
of Editorial Clío, Libros y Videos, S.A. de C.V. and Letras Libres, S.A. de C.V.
Member of Academia Mexicana de la Historia and Colegio Nacional. Mem-
ber since April 1996.
DENISE MAERKER SALMÓN 1
Anchor at Televisa’s flagship newcast “En punto con Denise Maerker”.
Former Research Professor and Director of Communication at Centro de
Investigación y Docencia Económicas (CIDE). Cast member at the debate
program “Tercer Grado”. Will be proposed as director at the stockholders
meeting to be held on April 27, 2022.
24
* Information of the members which designation or ratification will be proposed to the Shareholders’ Meeting on April 27, 2022.
SEBASTIAN MEJÍA 2
President and Co-Founder of Rappi. Co-Founder of Grability. Member
since April 2021.
LORENZO ALEJANDRO MENDOZA GIMÉNEZ 2
Chief Executive Officer, Member of the Board of Directors and the Executive
Committee of Empresas Polar. Member of the MIT Sloan School of Manage-
ment Board, the Latin American Board of Georgetown University, the Latin
America Conservation Council (LACC), and the Board of Trustees of Univer-
sidad Metropolitana, Ashoka Fellow and Member of the World Economic Fo-
rum (named a Global Young leader in 2005). Member since April 2009.
GUADALUPE PHILLIPS MARGAIN 1
Chief Executive Officer of Empresas ICA, S.A.B. de C.V. Former Chief Re-
structuring Officer of Empresas ICA, S.A.B. de C.V. Former Vice-President
of Finance and Risk of Grupo Televisa (left more than five years ago).
Member of the Board of Directors of Ica Tenedora, Innova (subsidiary
of Grupo Televisa) and Grupo Aeroportuario del Centro Norte. Member
since April 2012.
FERNANDO SENDEROS MESTRE 2
Executive President and Chairman of the Boards of Directors of Grupo
Kuo, S.A.B. de C.V. and Dine, S.A.B de C.V. Chairman of the Board of Direc-
tors of Grupo Desc, S.A. de C.V. Member of the Boards of Kimberly-Clark
de México, Industrias Peñoles and Grupo Nacional Provincial. Member of
Consejo Mexicano de Negocios (formerly Consejo Mexicano de Hombres
de Negocios) and Member of Fundación para las Letras Mexicanas. Mem-
ber since April 1992.
ENRIQUE FRANCISCO JOSÉ SENIOR HERNÁNDEZ 2
Managing Director of Allen & Company LLC. Member of the Boards of Direc-
tors of Coca-Cola FEMSA, Cinemark and FEMSA. Member since April 2001.
EDUARDO TRICIO HARO 2
Chairman of the Board of Directors of Grupo Lala. Chairman of the Exec-
utive Committee of Aeromexico and Member of the Corporate Practices
Committee of Grupo Televisa. Chairman of Grupo Industrial Nuplen, Fun-
dación Lala and SER, A.C. Member of the Boards of Directors of Grupo
Aeroméxico, Grupo Financiero Banamex, Orbia, Aura Solar, Hospital In-
fantil de México “Federico Gómez”, el Instituto Tecnológico y de Estudios
Superiores de Monterrey, el Consejo Mexicano de Negocios, el Instituto
Nacional de Ciencias Médicas y Nutrición “Salvador Zubirán”, the Latin
America Conservation Council of the Nature Conservancy (LACC). Mem-
ber since April 2012.
DAVID M. ZASLAV 2
President, Chief Executive Officer and Director of Discovery, Inc. Member
of the Boards of Sirius XM Radio, Inc., Lionsgate Entertainment Corp., the
National Cable & Telecommunications Association, The Cable Center, Mt.
Sinai Medical Center, the USC Shoah Foundation, the Partnership for New
York City and the Paley Center for Media. Member since April 2015.
Alternate Directors:
HERBERT A. ALLEN III 3
President of Allen & Company LLC. Former Executive Vice-President
and Managing Director of Allen & Company Incorporated. Member
since April 2002.
FÉLIX JOSÉ ARAUJO RAMÍREZ 1
Vice President of Digital and Broadcast Television and Televisa Regional.
Former Chief Executive Officer of Telesistema Mexicano. Chairman of
the Board of Directors of Televisión Independiente de México and Televi-
mex. Member since April 2002.
JOAQUÍN BALCÁRCEL SANTA CRUZ 1
Chief of Staff of the Executive Chairman of the Board of Directors of Gru-
po Televisa. Former Vice-President - Legal and General Counsel of Grupo
Televisa. Former Vice-President and General Counsel of Television Divi-
sion. Former Legal Director of Grupo Televisa. Member since April 2000.
JULIO BARBA HURTADO 1
Legal Advisor of Grupo Televisa and Secretary of the Audit and Corpo-
rate Practices Committee of Empresas Cablevisión (subsidiary of Grupo
Televisa). Former Legal Advisor to the Board of Grupo Televisa. Alternate
member of the Board of Directors of Editorial Televisa Colombia. Mem-
ber since December 1990.
LUIS ALEJANDRO BUSTOS OLIVARES 1
Legal Vice-President and General Counsel of Grupo Televisa. Former Le-
gal and Regulatory on Telecommunications Vice-President, former Le-
gal General Director of Special Affairs, former Corporate Legal General
Director, former Legal Director of Litigation of Grupo Televisa. Former
General Counsel of The Pepsi Bottling Group Mexico. Former litigation
lawyer at Mr. Ramón Sánchez Medal’s law firm. Member since April 2021.
JORGE AGUSTÍN LUTTEROTH ECHEGOYEN 1
Vice-President and Corporate Controller of Grupo Televisa. Former Se-
nior Partner of Coopers & Lybrand, Despacho Roberto Casas Alatriste,
S.C. and former Controller of Televisa Corporación. Alternate Member of
the Board of Empresas Cablevisión (subsidiary of Grupo Televisa). Alter-
nate Member of the Board of Managers and the Executive Committee of
Innova (subsidiary of Grupo Televisa). Member since April 2000.
RAÚL MORALES MEDRANO 2
Partner of Chévez, Ruiz, Zamarripa y Cia., S.C. Member of the Board of
Directors and of the Audit and Corporate Practices Committee of Empre-
sas Cablevisión (subsidiary of Grupo Televisa). Member since April 2002.
Secretary of the Board of Directors
RICARDO MALDONADO YÁÑEZ
Audit Committee
GUILLERMO GARCÍA NARANJO ÁLVAREZ (P) 2
FRANCISCO JOSÉ CHÉVEZ ROBELO 2
JOSÉ LUIS FERNÁNDEZ FERNÁNDEZ 2
Corporate Practices and Compensation Committee
JOSÉ LUIS FERNÁNDEZ FERNÁNDEZ (P) 2
GUILLERMO GARCÍA NARANJO ÁLVAREZ 2
EDUARDO TRICIO HARO 2
(P) President
1 Related
2 Independent
3 Alternate of Mr. Enrique Francisco José Senior Hernández
25
Investor
Information
CORPORATE HEADQUARTERS
Grupo Televisa, S.A.B.
Av. Vasco de Quiroga 2000
C.P. 01210 México, CDMX
(5255) 5261-2000
LEGAL COUNSEL
Mijares, Angoitia, Cortés y Fuentes, S.C.
Javier Barros Sierra 540, 4to piso
C.P. 01210, México, CDMX
(5255) 5201-7400
Fried, Frank, Harris, Shriver & Jacobson LLP
One New York Plaza
New York, New York 10004 U.S.A.(212) 859-8000
INDEPENDENT AUDITORS
KPMG Cárdenas Dosal, S.C.
Blvd. Manuel Ávila Camacho No.176
Col. Reforma Social
C.P. 11650, México, CDMX
(5255) 5246-8300
DEPOSITARY
The Bank of New York
BNY Mellon Shareowner Services
PO Box 358516
Pittsburgh, PA 15252-8516
(201) 680-6825
COMMON STOCK DATA
CPOs (Certificados de Participación Ordinarios) of Grupo
Televisa, S.A.B., comprise 117 shares each (25 Series A
Shares, 22 Series B Shares, 35 Series D Shares and 35 Se-
ries L Shares), and are listed and admitted for trading on
the Mexican Stock Exchange (Bolsa Mexicana de Valores,
S.A.B. de C.V.), under the ticker symbol TLEVISA CPO. The
GDRs (Global Depositary Receipts), each representing
five CPOs, are listed on the New York Stock Exchange
and trade under the ticker symbol TV.
DIVIDEND POLICY
Decisions regarding the payment and amount of div-
idends are subject to approval by holders of a majority
of the Series “A” Shares and Series “B” Shares voting to-
gether, generally, but not necessarily, on the recommen-
dation of the Board of Directors, as well as a majority of
the Series “A” Shares voting separately.
SEC FILINGS AND FORWARD LOOKING STATEMENT
Televisa files and submits annual reports to the US Se-
curities and Exchange Commission. This annual report
contains both historical information and forward-looking
statements. These forward-looking statements, as well as
other forward-looking statements made by the company,
or its representatives from time to time, whether orally or
in writing, involve risks and uncertainties relating to the
company’s businesses, operations, and financial condition.
A summary of these risks is included in the company’s fil-
ings with the US Securities and Exchange Commission, and
this summary as well as the other filings with and submis-
sions to the US Securities and Exchange Commission are
and will be available through the office of investor rela-
tions upon written request.
INVESTOR RELATIONS
We ask that investors and analysts direct all inquiries to:
Grupo Televisa, S.A.B.
Av. Vasco de Quiroga 2000
C.P. 01210 México, CDMX
(5255) 5261-2445
ir@televisa.com.mx
www.televisa.com
www.televisair.com
www.televisa.com
www.televisair.com