2022 ANNUAL REPORT
CONTENTS
02 This is Televisa
16 Other Businesses
04 Letter to Shareholders
18 TelevisaUnivision*
10 Financial highlights
20 Commitment to sustainability
12 Cable
14 Sky
22 Fundación Televisa
24 Board of Directors
Unless expressly stated otherwise, the information included in this report is as of December 31,
2022 and reflects the Company’s operations and businesses as of such date. Some information,
especially such related to the former Content segment, has materially changed since then as a
result of the completion of the transaction described in the TelevisaUnivision section.
* This annual report includes certain financial information of TelevisaUnivision as well other
important information concerning TelevisaUnivision’s business. The Company is not responsible
for such information.
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 interna-
tional 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 from the Mexican gov-
ernment that authorizes it to broadcast programming over tele-
vision stations for the signals of TelevisaUnivision, Inc. (“Televis-
aUnivision”), and its 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 50 countries through television networks, cable opera-
tors and over-the-top or “OTT” services. Televisa also has inter-
ests in magazine publishing and distribution, professional sports
Grupo Televisa (“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.
and live entertainment, 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
4,458,220
5,984,151
5,233,724
240,207
Total RGUs
15,916,302
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 of up to 20 Mbps.
Revenue Generating Units
Video
Broadband
Voice
MVNO
6,257,059
640,294
453
15,602
Total RGUs
6,913,408
Other
Businesses
Gaming
PlayCity Casino includes 18
locations across the country.
Publishing
A leading Spanish-language
magazine publisher.
Publishing Distribution
Distributes publications
in Mexico.
Soccer
First division soccer team of
the Mexican league and owner
of Azteca Stadium, located in
Mexico City.
2
SKY
Revenues
Contribution
63.6% Cable
26.7%
9.7% Other
Sky
Businesses
Investments in
Associates and
Joint Ventures
TelevisaUnivision
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.
OSI*
Contribution
71.1% Cable
22.9%
6.0% Other
Sky
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.
3
DEAR SHAREHOLDERS
Bernardo Gómez
Alfonso de Angoitia
Co-Chief Executive Officers
Last year was marked by
several milestones, which we
are confident will allow us to
deliver sustainable top-line
growth and free-cash-flow
generation in the medium-
term despite a challenging
global macroeconomic
environment in 2023.
4
At Grupo Televisa, we:
•
Ended the year with a network of 18.7 million homes passed, after
passing around 875 thousand new homes with fiber throughout the
year; and delivered more than 1.2 million fixed revenue generating
units (RGUs) net-adds in cable, or over 3x the RGU net-adds we had
in 2021. We ended 2022 with 15.7 million fixed RGUs. Moreover, we
expect that our wide geographic footprint and solid competitive po-
sition will allow us to keep delivering strong RGU net-adds in 2023.
• Redefined our sales commission model and rebalanced our channel
mix at Sky, with the objective of materially improving sales quality go-
ing forward. This is intended to help us stabilize our subscriber base
and overall revenue streams at Sky, while materially reducing opex
and capex intensity. We expect Sky’s free-cash-flow generation to
improve significantly in 2023.
• Announced a plan to further simplify our equity story by spinning-off
our other businesses, including the soccer team America, the Azteca
Stadium, the gaming operations, and the publishing & distribution of
magazines businesses, creating a new controlling entity that will be
listed on the Mexican Stock Exchange.
We closed the merger of our former content assets with
Univision solidifying one of the world’s leading Spanish-
language media and content company
of live sports. While ViX SVOD has only been in the mar-
ket for less than two quarters, the opportunity that Tele-
visaUnivision has ahead is exciting.
• ViX was awarded Apple TV’s app of the year in 2022 glob-
ally – the first Spanish-language app to receive this rec-
ognition – and Google Play’s Best App of 2022 in Mexico.
•
TelevisaUnivision’s content factory continues to pro-
duce hits that resonate in both the US and Mexico; and
is now powering its market-leading streaming platform
as well as its linear networks. In the US, TelevisaUnivi-
sion’s share of Spanish language prime-time audiences
increased to 62.4% in 2022 from 62.2% in 2021 even
though its closest competitor had the Spanish language
World Cup exclusive rights, and that it programmed sev-
eral franchise series during the fourth quarter of the year.
Moreover, TelevisaUnivision’s share of total prime-time
audiences in the US regardless of language went up to
6.4% in 2022 from 6.1% in 2021. In Mexico, TelevisaU-
nivision’s free-to-air audiences on prime-time beat its
closest competitor by 105%. This allowed TelevisaUni-
vision to grow its share of audiences in Mexico by two
percentage points.
• Keep making progress on our corporate optimiza-
tion process, including a headcount reduction of ap-
proximately 3% of our work force, which will help us
maintain our solid profitability levels in 2023.
• Reduced our total leverage by around $800 million
dollars, allowing us to realize significant savings re-
lated to net interest expenses.
At TelevisaUnivision:
• On January 31st, we closed the merger of our for-
mer content assets with Univision solidifying one
of the world’s leading Spanish-language media and
content company, a business without comparison
in the global media landscape exclusively focused
on the massive market opportunity that exists with
the global Spanish speaking audience of almost 600
million people.
•
•
In April 2022, TelevisaUnivision launched a com-
pletely redesigned and enhanced Advertising Video
on Demand (AVOD) service, ViX, featuring one of the
world’s most extensive Spanish language video of-
ferings, with over 100 channels, video on demand,
and over 40,000 hours of content in its first year,
including novelas, mega-hits, news content, soccer,
and new and exclusive original programming. ViX
AVOD has already been in the market for three quar-
ters, and its metrics related to users and engage-
ment have exceeded initial expectations. The Qatar
World Cup was a major contributor to the success of
ViX in Mexico and Spanish-speaking Latin America,
as it was a key event to attract millions of month-
ly active users (MAUs) to the platform. During the
World Cup, the service saw peak streaming activity
with more than 5 million devices for a single game
with zero technical issues, which is remarkable for a
service as young as ViX. ViX is now the largest Span-
ish-language streaming app in the world with more
than 25 million MAUs on its free tier alone.
In July 2022, TelevisaUnivision launched a Sub-
scription Video on Demand (SVOD) service, ViX+, in
the US, Mexico, and most of Spanish-speaking Lat-
in America, giving subscribers access to the broad-
est, most premium Spanish-language content ever
offered on an SVOD service, featuring more than
10,000 hours of ad-free premium entertainment
programming in its first year, and up to 7,000 hours
5
In 2022, Grupo Televisa’s consolidated revenue reached $75.5
billion pesos, representing year-on-year growth of 2.2%
•
•
In mid-2022, TelevisaUnivision closed another
incredibly successful US upfront. Volume grew
double digits to the highest levels the compa-
ny has produced in seven years despite having
tough comps from last year’s upfront. For the
second consecutive year, pricing held in line with
the market, in the high single digit range. Impor-
tantly, TelevisaUnivision grew in both linear and
streaming. Unlike other media companies, Tele-
visaUnivision was able to leverage growth in rat-
ings and audience on linear. Demand for ViX came
from existing linear advertisers, where the bundle
rate approached an outstanding 70%, as well as
from new, digital-first advertisers. Capturing dig-
ital budgets, where there is secular growth in ad
dollars, is a huge opportunity for TelevisaUnivi-
sion. TelevisaUnivision’s early success is also sol-
id proof of the quality upgrade it has made with
this new product and new brand. All in, advertis-
ing commitments in the US increased in the mid-
teens, leading TelevisaUnivision to be optimistic
about its advertising revenue growth prospects.
Finally, TelevisaUnivision successfully concluded
upfront negotiations with its customers in Mex-
ico, with the plan growing by mid-single digits
year-on-year making this upfront the largest in ab-
solute terms in its history. This can be seen as a
solid upfront outcome given the global economic
slowdown, and tough comps from last year due to
the World Cup. This upfront may help TelevisaU-
nivision to deliver advertising revenue growth in
Mexico for a third consecutive year, evidencing the
strength of its content and its advertising platform.
BUSINESS PERFORMANCE
In 2022, Grupo Televisa’s consolidated revenue reached
$75.5 billion pesos, representing year-on-year growth
of 2.2%; while proforma operating segment income
reached $28.0 billion pesos, equivalent to a year-on-
year decline of 4.7% mainly driven by the amortization of
costs and expenses of $930 million pesos related to the
transmission rights and production of the Qatar World
Cup at Sky.
Revenue growth in Cable and our Other Businesses
segment was partially offset by declining revenue at
Sky. However, last year was transformational for Sky
and we expect that in 2023, this business will experi-
ence a rebound, especially at the operating segment
income and operating cash flow level. In addition, our
expansion plan in Cable worked very well last year, al-
lowing us to gain market share of RGUs, while keeping
our ARPU relatively flat.
TelevisaUnivision´s proforma results for 2022 were
remarkable considering the launch of ViX & ViX+
which illustrates the power and uniqueness of our
combined assets as well as the focus and discipline
of its execution. The company’s full year proforma
revenue increased by 13% year-on-year to US$4.7
billion dollars, marking the second consecutive year
of double-digit revenue growth. Pro forma adjusted
OIBDA of US$1.7 billion dollars was US$4 million
dollars higher than last year, fully absorbing the peak
year of streaming losses.
CABLE – ADDED OVER 1.3 MILLION RGUs
In 2022, we exceeded our original plan to pass 700
thousand homes with FTTH, finishing with 875 thou-
sand homes passed. We closed the year with approx-
imately 18.7 million homes passed with our network,
of which approximately 63% are connected either with
fiber-to-the-node or fiber-to-the-home. The invest-
ments 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 very good year in terms of
RGU net additions. We reported 1.3 million RGU net
additions of video, broadband, voice, and mobile sub-
scribers, ending 2022 with 15.9 million total RGUs.
This result was largely driven by the implementation
of a bottom-up simplification of our product design
systems. The new “building-block” modules allowed
us to: 1) quickly create and modify new products, and
2) adjust prices at a more granular level. At the same
time, this simplification provides more flexibility to our
customers to pick their preferred combinations. We
are going back to basics “with izzi it’s easy to choose
your package”.
6
The year-long strategy to improve our quality of service,
that included the digitalization of our customer experi-
ence, fiber training of our technicians, well-focused in-
vestments to improve our network, and strengthening of
our best-in-class customer service call center, is starting
to pay off. Our Net Promoter Score reached its highest
level since 2018, and on broadband and pay-TV, the
Net Satisfaction Score placed us at the top of our com-
petitors for the first time. According to the IFT (Federal
Telecommunications Institute), izzi continues to have
the lowest complaints per 100 thousand customers in
all services compared to our peers, and our average re-
sponse time is the best by far and has remained so for
the past 2.5 years.
In 2022, we delivered modest revenue growth of 0.8%,
while operating segment income fell by 1.9%. Revenue
and operating segment income in our MSO operations
(87% of Cable revenue) increased by 2.5% and 2.6%,
respectively, for a margin of 42.9%. Growth opportuni-
ties in our MSO operations look promising, driven by the
ongoing expansion of our footprint and the solid RGU
net-adds that we have been delivering. Revenue in our
Enterprise operations (13% of Cable revenue) declined
by 7.6% due to significant headwinds as last year we
concluded a very important non-recurring project called
“Red Jalisco”. Operating segment income in our Enter-
prise operations fell by 28.8%, while our profitability
declined by 800 basis points given a temporary change
in our business mix more leaned towards lower margin
projects. As a reminder, “Red Jalisco” was a project de-
veloped for the Government of the State of Jalisco to
build a fiber network owned by the State.
SKY – GOING THROUGH A TRANSFORMATION PROCESS
2022 was a transformational year for Sky in which we
put special focus on improving our return over the in-
vestment. To achieve this, we replaced some pay-TV
packages that were not performing well, such as “Sky
Basico” with “Sky Silver HD”. We also redefined our sales
commission model and rebalanced our channel mix,
with the objective of materially improving sales quali-
ty going forward. By the end of the year, we launched
a prepaid premium package called “Prepago Gold”, of-
fering an expanded channel lineup that includes Sky’s
exclusive sports content. This new package is expected
to help us upsell to our high value prepaid customers.
Additionally, Sky signed a partnership with izzi; this
contract will allow Sky to offer high-speed broad-
band services that are both, reliable and competitive
to customers looking for an integrated offer. Sky also
launched a new mobile service using AT&T’s network,
targeting its customer base. Its value proposition is to
bundle a very competitive mobile data package from
a price standpoint, with an attractive upgrade in Sky’s
video content.
Moreover, leveraging on Sky’s strong brand awareness,
the company decided to expand the Sky brand to all
its new products. This brand consolidation is aimed at
creating into a stronger product portfolio, making Sky’s
communications more effective and streamlined.
During the year, Sky had around 1.3 million RGU dis-
connections. This was mainly driven by the loss of ap-
proximately 1.2 million video subscribers, of which 402
thousand were related to the clean-up of our base. We
closed the year with about 6.9 million RGUs, of which
9.3%, or 640 thousand, are broadband subscribers.
The above-mentioned factors led Sky’s revenue to
fall by 7.7% year-on-year in 2022, while operating
segment income declined by 24.6% for a margin of
31.5%. Sky’s operating segment income was impact-
ed by the lower revenue and the amortization of some
costs and expenses of $930 million pesos related to
the transmission rights of the Qatar World Cup.
TELEVISAUNIVISION – VIX
LAUNCHED
IS NOW FULLY
In 2022, TelevisaUnivision executed its strategy to op-
timize and modernize the traditional media business,
while creating a market-leading streaming platform
with superior economics in less than a full year of op-
erations. This has allowed TelevisaUnivision to deliver
another year of stellar performance.
TelevisaUnivision’s full year consolidated revenue in-
creased by 13% to US$4.7 billion dollars. Advertising
revenue increased by 10% driven by strong upfronts in
both the US and Mexico, where it produced the highest
volume growth in recent history in both markets, as
well as growth in scatter pricing and volume, and ac-
tive clients. In the US, advertising revenue increased
7
We believe that adopting sustainable business practices
is critical to generate long-term value for our customers,
employees, shareholders, and communities
10%, reflecting growth in both linear and streaming,
as well as record mid-term political revenue. In Mex-
ico, advertising revenue increased by 9%, and bene-
fitted from World Cup advertising revenue which in-
creased by 9% relative to the prior World Cup.
Subscription and licensing revenue increased by 20%,
reflecting nearly US$150 million dollars from subli-
censing the World Cup rights in other Spanish speak-
ing Latin American countries and the launch of ViX's
subscription tier. In the US, growth of 22% was also
driven by virtual MVPD revenue following carriage on
YouTube TV that began in the third quarter of 2021.
In Mexico, growth of 14% benefited from strong con-
tent licensing revenue and linear subscription price in-
creases, while subscribers grew modestly.
Adjusted OIBDA grew $4 million during the year to
around US$1.7 billion dollars, while cash flows pro-
vided by operating activities were US$343 million dol-
lars, despite absorbing significant investments in the
company’s new streaming service, ViX, including new
original premium content, sports rights, marketing,
and technology.
FOCUS ON ESG IS A PRIORITY
At Grupo 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 communi-
ties. ESG is a high priority and an important compo-
nent of our business strategy. We are committed to
developing and implementing initiatives to impact our
environment and society positively.
We give continuity to our ESG strategy through the
Sustainability Committee that monitors current ini-
tiatives to improve and encourage the development
of new ones. Thus, our achievements in sustainability
are the result of a continuous review process of our in-
ternal policies, procedures, and management systems
to improve corporate and sustainability performance,
which is measured through our key performance indi-
cators (KPIs). In addition, we seek to create a consis-
tent, transparent, and comparable ESG reporting sys-
tem to keep our stakeholders informed.
During 2022, MSCI upgraded the Grupo Televisa rating
from “BBB” to “A”. According to MSCI, the Company has
shown improvements in labor management and busi-
ness ethics practices, supporting their rating upgrade.
MSCI is a leading provider of critical decision support
tools and services for the global investment community.
Also, for sixth consecutive year, Grupo Televisa has been
selected as a member of the 2022 Dow Jones Sustain-
ability MILA Pacific Alliance Index, which measures
best-in-class companies among members of the S&P
MILA Pacific Alliance Composite that fulfill certain sus-
tainability criteria better than most of their peers within
a given industry. In addition, Grupo Televisa was includ-
ed in the 2022 Dow Jones Sustainability Emerging Mar-
kets Index. The Dow Jones Sustainability Indices are a
family of best-in-class benchmarks for investors who
recognize that sustainable business practices are criti-
cal to generating long-term shareholder value and wish
to reflect their sustainability convictions in their invest-
ment portfolios.
Throughout 2022, Grupo Televisa’s sustainability ef-
forts continued to be recognized globally. For example,
the Company was included in FTSE4Good Index Series:
FTSE4Good Emerging Markets and FTSE4Good Emerg-
ing Latin America. Also, Grupo Televisa has been select-
ed as a constituent of the ESG index, launched by S&P,
Dow Jones, and the Mexican Stock Exchange. Addition-
ally, the Company received the Distintivo Empresa So-
cialmente Responsable 2022 (2022 Socially Responsi-
ble Company recognition), granted by Centro Mexicano
para la Filantropía (Mexican Center for Philanthropy).
Finally, the Company was confirmed as a United Nations
Global Compact signatory, the world’s largest corporate
sustainability initiative.
We understand our sustainability strategy as a com-
mitment to enhancing the lives of the communities we
serve, and we believe by doing so, we will also contrib-
ute to our growth and success.
EXECUTING ON OUR STRATEGY IS KEY IN 2023
In 2023, the world will continue to face some macro-
economic headwinds, including geopolitical uncertain-
ties, inflation and tightened financial conditions. Still, we
have been preparing and positioning to execute on our
priorities and strategic initiatives under more challeng-
ing conditions.
8
In Cable, we will continue to expand our FTTH foot-
print to selective locations given our nationally rec-
ognized brand, exclusive content, and high-quality
service with competitive offers. We expect this to help
us to keep delivering sustainable RGU growth in the
medium term.
At Sky, the transformation process launched last year
is expected to stabilize our subscriber and revenue
base, while making our opex and capex structures
more efficient. Moreover, the absence of non-recur-
ring costs and expenses related to transmission rights
and production of the Qatar World Cup may allow us
to boost operating segment income growth this year.
TelevisaUnivision is focused on continuing executing
its strategy to create a business like no other, and its
stellar performance with double-digit revenue growth
for two consecutive years demonstrates the power
of such newly formed company. TelevisaUnivision’s
content factory in Mexico continues to produce block-
buster content that resonates through its linear net-
works, both in the US and Mexico, and is now pow-
ering its market-leading streaming platform. ViX has
been fully launched and is now the definitive leader in
Spanish-language streaming in less than a full year of
operations. Growth and profitability in TelevisaUnivi-
sion’s core business has been more than offsetting the
investments it made in ViX.
We feel privileged to be leading Grupo Televisa
through this digital transformation and simplification
process. Most importantly, we are very thankful to all
employees at our consolidated subsidiaries and un-
consolidated affiliates for their unwavering dedication
to continue providing the high-quality video, voice,
and broadband services that our customers need and
expect, and informing and entertaining our audiences.
We also 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
contributions and thoughtful advice during 2022.
To our shareholders, we want to extend our apprecia-
tion for your continued confidence in our vision and in
our long-term prospects.
Bernardo Gómez
Alfonso de Angoitia
Co-Chief Executive Officers
9
FINANCIAL
HIGHLIGHTS
In millions of Mexican pesos, except per
CPO amounts and shares outstanding
2022
2021
Chg.%
Consolidated revenues
75,527
73,915
Operating segment income1
28,010
29,379
2.2
(4.7)
Segment margin
Operating income
Margin
36.8%
39.5%
4,419
10,689
(58.7)
5.9%
14.5%
Controlling interest net
44,712
6,056
638.3
Earnings per CPO
15.80
2.17
Shares outstanding at year-end (in millions)
330,740
329,296
Cash and cash equivalents at year-end
51,131
25,828
98.0
Non-Current investments in financial instruments
3,384
4,463
(24.2)
Total debt at year-end2
105,241
125,792
(16.3)
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.
2 As of December 31, 2022 and 2021, total debt is presented net of finance costs in the amount of Ps. 994.7 million and Ps.1,207.1 million,
respectively.
10
75.5
billion pesos
Consolidated
Revenues
28.0
billion pesos
Operating Segment
Income
11
12
18.7
million homes
passed
1.3
million
RGUs added
0.8%
Revenue growth
During 2022, our Cable segment
reached 15.9 million RGUs,
improving service quality and
offering attractive video, voice,
broadband and mobile packages.
Televisa’s Cable business offers cable and convergent
services across 31 states in Mexico, covering the main
metropolitan areas of the country and continuing to
expand to new regions.
During the year, we continued with our growth program
in which we expanded our footprint by more than 875
thousand homes, reaching more than 18.7 million homes
passed in the country.
Our network is up to cable industry standards, combining
traditional hybrid fiber-coaxial, fiber deep, and deploy-
ments of Gigabit Passive Optical Networks (GPON).
Internet Protocol Access and Large-Scale Core networks are
in place and Voice over IP Cores are placed in several regions
to support telephony traffic 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.
Revenue for our Cable segment grew by 0.8% in 2022
and we added more than 1.2 million fixed RGUs.
We continue to lead aggregating services of Over the Top
(OTT) platforms in Mexico. During the year, we continued
to add new OTT services into our packages, such as
Vix+, strengthening our product suite. In addition, we
continue to deploy our state of the art Android TV set-top
boxes, upgrading portions of our network to Docsis 3.1
technology and Fiber to the Home (FTTH).
Our mobile service (izzi Móvil), with its disruptive pricing
and services, has continued to grow, reaching more than
240 thousand subscribers.
13
6.9
million total
RGUs
In 2022, we kept offering
some of the best content
and exclusive sports
through different packages
and platforms.
14
Sky is our direct-to-home (DTH) satellite television and
By the end of 2022, Sky reached more than 640 thousand
fixed wireless Broadband operation. Through its pay-
broadband RGUs.
TV packages, it reaches nearly every corner in Mexico,
plus the Dominican Republic and Central America.
Sky continues innovating on new platforms and has
launched Blue To Go Sports, an Over-The-Top platform
Sky offers pay-TV packages,
including exclusive
that offers the possibility to access Sky’s exclusive sport
content that ranges from sports to concerts and
content without subscribing to any other service. This
special events, as well as fixed-wireless broadband
content includes La Liga, Bundesliga, UEFA tournaments
services with speeds of up to 20 Mbps, with around
and the NHL, among other content, and can be accessed
6.9 million RGUs.
through any device.
15
OTHER BUSINESSES
In October 2022, we announced that the Board of
It is expected that this proposed reorganization will be
Directors of the Company approved a reorganization
carried out through a spin-off (escisión) of the Com-
proposal to separate from Televisa some business-
pany, creating a new controlling entity listed on the
es that are part of its Other Businesses segment, in-
Mexican Stock Exchange that would hold the Spun-off
cluding its futbol operations, the Azteca Stadium, the
Businesses, and that would have the same sharehold-
gaming operations, and publishing and distribution of
ing structure as Televisa.
magazines, as well as certain related assets and real
estate (the “Spun-off Businesses”).
GAMING
PlayCity Casino includes 18 locations across the
country with nearly 7 thousand Electronic Gaming Ma-
chines and a full online casino offering. Our product
portfolio includes some of the latest and most enter-
taining video reels and bingo games in Mexico.
During 2022, despite the latest health government
policy and smoking ban, revenue and operating mar-
gin grew closer to pre-pandemic levels.
The organization will keep the high operating and ser-
vice standards which have shown to be the most im-
portant competitive advantage.
16
PUBLISHING
During 2022, Televisa published 32 magazine titles in
Mexico. These titles cover a wide variety of consumer
interests spanning health, beauty, fashion, pop cul-
ture, technology, travel, and science.
Some of our titles aim to capitalize on the success of
Televisa’s audiovisual content and to engage with our
audiences at a deeper level.
As a result of structural challenges in the publishing
industry, we continue to focus our efforts on a mul-
tiplatform content generation (print & digital) for our
profitable brands.
17
TELEVISAUNIVISION
As the leading Spanish-language media and content
platforms. The company was formed through a merger
company in the world, TelevisaUnivision features the
between Grupo Televisa’s media, content and produc-
largest library of owned content and industry-leading
tion assets with Univision on January 31st, 2022. Gru-
production capabilities that power its streaming, dig-
po Televisa is the largest shareholder of TelevisaUnivi-
ital and linear television offerings, as well as its radio
sion with an equity stake of approximately 45%.
18
TelevisaUnivision’s media portfolio
includes
the
Mexico affiliated with 222 television stations, Video-
top-rated broadcast networks Univision and UniMás in
cine studio, and Uforia, the Home of Latin Music, which
the U.S. and Las Estrellas and Canal 5 in Mexico. Tele-
encompasses owned or operated U.S. radio stations,
visaUnivision is home to 36 Spanish-language cable
a live event series and a robust digital audio footprint.
networks, including Galavisión and TUDN, the No. 1
TelevisaUnivision is home to the global streaming ser-
Spanish-language sports network in the U.S. and Mex-
vice ViX, which hosts over 50,000 hours of high-qual-
ico. With the most compelling portfolio of Spanish-lan-
ity, original Spanish-language programming from dis-
guage sports rights in the world, TelevisaUnivision has
tinguished producers and top talent. The company’s
solidified its position as the home of soccer. Televis-
prominent digital assets include Univision.com, Uni-
aUnivision also owns and manages 59 television sta-
vision NOW, and several top-rated digital apps. For
tions across the U.S. and four broadcast channels in
more information, visit televisaunivision.com.
19
COMMITMENT TO
SUSTAINABILITY
At Grupo Televisa we are committed to create short
Our social approach includes our employees and com-
and long-term value for our stakeholders such as our
munities. The growth of our employees is a key element
employees, customers, investors, and communities
in the development of our business. We promote their
that we reach through our media, entertainment, and
professional development with training programs on
telecommunications services. We focus our efforts on
topics related to ethics, anti-corruption, human rights,
maintaining sustainable growth, looking for a balance
information security and data protection. We are com-
between operational and financial efficiency and tak-
mitted to offering stable labor conditions to our em-
ing into consideration the technological, social, eco-
ployees by respecting their human and collective rights
nomic, and environmental perspectives.
and providing a working environment that enables
We give continuity to our ESG strategy through the
Sustainability Committee who monitors to improve
current initiatives and encourage the development of
them to improve their performance and increase their
engagement, which is reinforced through performance
evaluation practices and additional benefits.
new ones. Thus, our achievements in sustainability
Additionally, we focus on achieving greater ties with
are the result of a continuous review process of our in-
the community. We create opportunities in education,
ternal policies, procedures and management systems
culture, entrepreneurship, health, and environmental
to improve corporate and sustainability performance,
protection to help build better and more sustainable
which is measured through our key performance indi-
societies through our social programs.
cators (KPIs). In addition, we seek to create a consis-
tent, transparent, and comparable ESG reporting sys-
tem to keep our stakeholders informed.
For the company, corporate supervision is a priority
through corporate governance practices. The achieve-
ments in sustainability have been the result of a con-
On the environmental side, we recognize the impor-
stant process of reviewing policies and programs to
tance of addressing issues related to climate change.
improve our corporate management. Our sustainabili-
For this reason, we are committed to reducing our
ty goals seek to align with best practices and interna-
environmental impact and Greenhouse Gas (GHG)
tional initiatives, such as the United Nations Sustain-
emissions through specific initiatives and programs,
able Development Goals.
training, and reporting of emissions. We also have en-
vironmental goals such as generating clean energy, re-
ducing energy, water, and waste consumption.
During 2022, Grupo Televisa's sustainability efforts
were recognized by different prestigious organizations
such as:
20
• • Dow Jones Sustainability Emerging Markets Index.
The Company was selected as one of only five
Mexican companies
• • Dow Jones Sustainability MILA Pacific Alliance Index
• • FTSE4Good Emerging Markets Index
• • FTSE4Good Emerging Latin America Index
• • 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 2022 (2022
Socially Responsible Company recognition), for the sixth
consecutive year. This recognition was 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)
• • Latin American Sustainable Leaders Agenda (ALAS20), Grupo
Televisa was recognized as ‘Leading Company in Sustainability’, and
‘Leading Company in Investor Relations’
Furthermore, in 2022, MSCI upgraded the Grupo Televisa rating to “A”
from “BBB”. According to MSCI, the Company has shown improvements
in labor management and business ethics practices, supporting their
rating upgrade. MSCI is a leading provider of critical decision support
tools and services for the global investment community.
We understand our sustainability strategy as a commitment to enhancing
the lives of the communities we serve, and we believe by doing so, we
will also contribute to our growth and success.
21
FUNDACIÓN TELEVISA
Our innovative programs in education, health, cul-
Fundación programs work along different life stages.
ture, entrepreneurship, and environmental protec-
Empieza Temprano focuses on early childhood devel-
tion provide an empowering platform for hundreds
opment by providing parents and families with infor-
of thousands of people.
In 2022, Fundación Televisa (or “Fundación”) cele-
brated its 20th anniversary and remains committed to
helping those most in need. As a result, we were able
to impact the lives of 968,046 children, youth and
adults in Mexico and the United States, investing (to-
gether with our 217 allies) more than Ps $337 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 communi-
ties. Our approach combines effective leveraging of the
Company’s communication channels with state-of-the-
art digital tools, financial support, and on-the-ground
multidisciplinary teams.
Our sustainability programs and initiatives are intend-
ed to help achieve 12 of 17 of the United Nations Sus-
tainable Development Goals.
In 2022, we provided more than 58 million digital
impacts and more than 114,000 TV media impacts,
reaching more than 46 million people on TV. At the
same time, we helped more than 15 institutions and
organizations through communication campaigns with
television spaces.
We have more than 1.6 million followers on social net-
works and more than 1.5 million people on our digital
mation and practical tips. To enhance the skills of K-12
students, Fundación has a civic values program called
Valores and a health and wellness program called
Vida Saludable. Cuantrix teaches computer science
and coding. Technolochicas empowers young wom-
en through STEAM (Science, Technology, Engineering,
Art and Mathematics). Bécalos works to increase high
school and college completion while improving the stu-
dent’s employability. POSiBLE helps expand high-im-
pact innovation-driven entrepreneurship through train-
ing, networking, resources, visibility and acceleration
for high-potential startups and Gol por México com-
bines the passion for helping others with the passion
for sports. Through this program, we have transformed
soccer goals from the Mexican Soccer League into aid
for the neediest communities in México.
In addition, Fundación’s cultural and environmental
programs cut across ages serving the general public
through actions in specific locations and through digi-
tal and media spaces.
Our numbers and recognitions include the following:
• • We had more than 155,748 students from public
schools and 5,596 teachers and instructors, across
Mexico, register in our Cuantrix platform to learn
basic coding skills.
• • We had more than 8,890 middle-school girls par-
ticipate in Technolochicas STEAM activities in Mex-
ico and the United States.
platforms.
22
• • We had 38,645 recipients of Bécalos scholarships,
reaching 512,119 scholarships in the program's his-
• • We transformed 961 soccer goals from the Mexican
Soccer League to provide 35,893 recipients with new
tory. 19,040 scholarships were designated for stu-
aid in health, nutrition, development, dwelling, refor-
dents and teachers developing employability com-
estation and support of women through our “Gol por
petencies, 157 scholarships for students attending a
México” program.
program for talented youth, and 2,034 scholarships
for women registered into STEAM training.
• • Through our Visual Arts Cultural projects, we promoted
and exhibited our photographic and cinematographic
• • We continued our partnership with Schmidt Futures
and Rhodes Trust to promote their RISE scholarship
collection in national and international festivals and
museums reaching more than 65,000 attendees.
program in Mexico. This program provides a life-
time support to exceptional teenagers that want to
change the world.
• • We supported 30,251 entrepreneurs in developing
their business models through our POSiBLE program.
• • We participated in far-reaching communication cam-
paigns, "Play this Summer" and "Early Childhood
Week." focused on delivering messages to promote
early childhood stimulation; “Valores” which promot-
ed civic values and the prevention of digital violence
through fresh multimedia content and a series of
videos reaching more than 43 million mexicans, and
our “Vida Saludable” program which promoted well-
ness and health, reaching more than 6.7 million high
school students through the Mexican Secretary of
Public Education’s (Secretaría de Educación Pública)
Programming Channel “Aprende en Casa III”.
• • We provided guidance to more than 59,400 parents
every week with practical tips via SMS and our digital
newsletter through our Empieza Temprano program.
We received the following recognitions:
• • The CANUTO award for best documentary film con-
tent awarded by the “DocsMX Film Festival”.
• • Winners of the JUNA KINO 2022 Best Short Film for
the campaign “Este Verano Juega”.
• • Recognized by the “CEMEFI Caracol de Plata” for the
campaign “Bécalas” dedicated to empowering women.
• • Recognized by CEMEFI and awarded with the ESR
(Empresa Socialmente Responsable) Socially Re-
sponsible Company 2022.
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 stra-
tegic contribution to building a more empowered, pros-
perous and democratic society where all people have a
platform to succeed.
For more information, please visit our 2022 Fundación
Televisa Annual Report:
https://informe.fundaciontelevisa.org/informe2022/en/
23
BOARD OF DIRECTORS
EMILIO FERNANDO AZCÁRRAGA JEAN (C) 1
Executive Chairman of the Board and Chairman of the Executive
Committee of Grupo Televisa. Member and Chairman of the
Board of Empresas Cablevisión (subsidiary of Grupo Televisa).
Former President and Chief Executive Officer of Grupo Televisa.
Member of the Board of TelevisaUnivision and former member of
the Board of Grupo Financiero Banamex. Member and Chairman
of the Board of Managers of Innova (subsidiary of Grupo
Televisa). Member of Consejo Mexicano de Negocios (formerly
Consejo Mexicano de Hombres de Negocios) and Fundacion
Teletón.
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 Liberty Latin
America, Grupo Axo y 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.
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.
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 Ruiz Urquiza y
Cia, S.C., representative of Arthur Andersen & Co. Member of
the Board of Directors and Chairman of the Audit Committees
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.
JON FELTHEIMER 2
Chief Executive Officer of Lionsgate. Former President of
Columbia TriStar Television Group, former Executive Vice
President of Sony Pictures Entertainment. Member of the
Boards of Lionsgate, Celestial Tiger Entertainment and Pilgrim
Media Group.
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, Controladora Vuela Compañía
de Aviación and Apuestas Internacionales (subsidiary of Grupo
Televisa). 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).
SALVI RAFAEL FOLCH VIADERO 2
Chief Executive Officer of Grupo Jumex. Former Chief Executive
Officer of Grupo Televisa’s Cable 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 Supervision 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).
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, Chairman of the Boards of
Directors of Museum of Contemporary Art Denver and Biennial
of the Americas, Digital Communications Governor and Steering
Committee Member of the World Economic Forum. Member of
Young Presidents’ Organization.
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 Chairman of the Audit Committee of Grupo
Financiero Citibanamex, S.A. de C.V., Banco Nacional de México,
S.A. and Citibanamex, Casa de Bolsa, S.A. de C.V., Member of
the Board of Directors, Member of the Corporate Practices
Committee and Chairman of the Audit Committee of Grupo
Posadas, S.A.B. de C.V. 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).
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 Grupo 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.
CARLOS HANK GONZÁLEZ 2
Chairman of the Board of Directors of Grupo Financiero
Banorte and Banco 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
Banorte. Member of the Boards of Directors of Bolsa Mexicana
de Valores and Grupo Hermes.
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.
24
ALTERNATE DIRECTORS
DENISE MAERKER SALMÓN 1
Executive producer of newcast “En punto”. Cast member on the
debate program “Tercer Grado”. Former Research Professor and
Director of Communication at Centro de Investigación y Docencia
Económicas (CIDE).
SEBASTIAN MEJÍA 2
President and Co-Founder of Rappi. Co-Founder of Grability.
HERBERT A. ALLEN III 3
President of Allen & Company LLC. Director of the Coca-Cola
Company. Former Executive Vice-President and Managing
Director of Allen & Company Incorporated.
FÉLIX JOSÉ ARAUJO RAMÍREZ 1
Vice President of Digital and Broadcast Television and Televisa
Regional. Former Chief Executive Officer of Telesistema Mexicano.
LORENZO ALEJANDRO MENDOZA GIMÉNEZ 2
Chief Executive Officer, Member of the Board of Directors and
Chairman of the Executive Committee of Empresas Polar. Former
Member of the Boards of AES La Electricidad de Caracas, CANTV-
Verizon and BBVA Banco Provincial. Member of the Board of Grupo
GEPP. Member of the MIT Sloan Board, the Latin American Board
of Georgetown University, Group of Fifty (G-50), the Latin America
Conservation Council (LACC), the Latin American Business Council,
the Board of Trustees of Universidad Metropolitana, the Board of
Trustees of Instituto de Estudios Superiores de Administración
(IESA), Ashoka Fellow and Member of the World Economic Forum
(named a Global Young leader in 2005).
JOAQUÍN BALCÁRCEL SANTA CRUZ 1
Chief of Staff of the Executive Chairman of the Board of Directors of
Grupo Televisa. Former Vice-President - Legal and General Counsel
of Grupo Televisa. Former Vice-President and General Counsel of
Television Division. Former Legal Director of Grupo Televisa.
JULIO BARBA HURTADO 1
Legal Advisor of Grupo Televisa and Secretary of the Audit
and Corporate 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.
GUADALUPE PHILLIPS MARGAIN 1
Chief Executive Officer of ICA Tenedora, S.A. de C.V. Former Chief
Restructuring 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 Grupo Axo, Club de
Industriales, ICA Fluor, Ica Tenedora, Innova (subsidiary of Grupo
Televisa) and Controladora Vuela de Aviación, S.A.B. de C.V.
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 Directors 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.
ENRIQUE FRANCISCO JOSÉ SENIOR HERNÁNDEZ 2
Managing Director of Allen & Company LLC. Member of the Boards
of Directors of Coca-Cola FEMSA, Cinemark and FEMSA.
EDUARDO TRICIO HARO 2
Chairman of the Board of Directors of Grupo Lala. Chairman of
the Executive Committee of Aeromexico and Member of the
Corporate Practices Committee of Grupo Televisa. Chairman of
Grupo Industrial Nuplen, Fundación Lala and SER, A.C. Member
of the Boards of Directors of Grupo Aeroméxico, Grupo Financiero
Banamex, Orbia, Aura Solar, Hospital Infantil de México “Federico
Gómez”, Instituto Tecnológico y de Estudios Superiores de
Monterrey, Consejo Mexicano de Negocios, and Instituto Nacional
de Ciencias Médicas y Nutrición “Salvador Zubirán”.
DAVID M. ZASLAV 2
President, Chief Executive Officer and Director of Warner Bros.
Discovery, Inc. Member of the Boards of Sirius XM Radio, Inc., The
Cable Center, the Paley Center for the Media, Business Roundtable,
American Cinematheque, Quadio, Elie Wiesel Foundation, Syracuse
University, Mt. Sinai Medical Center, the USC Shoah Foundation,
and the Partnership for New York City.
LUIS ALEJANDRO BUSTOS OLIVARES 1
Legal Vice-President and General Counsel of Grupo Televisa.
Former Legal and Regulatory on Telecommunications Vice-
President, former Legal 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.
JORGE AGUSTÍN LUTTEROTH ECHEGOYEN 1
Vice-President and Corporate Controller of Grupo Televisa.
Former Senior 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). Alternate Member of
the Board of Managers and the Executive Committee of Innova
(subsidiary of Grupo Televisa).
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
Empresas Cablevisión (subsidiary of Grupo Televisa).
Secretary of the Board of Directors
RICARDO MALDONADO YÁÑEZ
Audit Committee
GUILLERMO GARCÍA NARANJO ÁLVAREZ (C) 2
FRANCISCO JOSÉ CHÉVEZ ROBELO 2
JOSÉ LUIS FERNÁNDEZ FERNÁNDEZ 2
Corporate Practices and Compensation Committee
JOSÉ LUIS FERNÁNDEZ FERNÁNDEZ (C) 2
GUILLERMO GARCÍA NARANJO ÁLVAREZ 2
EDUARDO TRICIO HARO 2
(C) Chairman
1 Related
2 Independent
3 Alternate of Mr. Enrique Francisco José Senior Hernández
25
INVESTOR INFORMATION
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.
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
SEC FILINGS AND FORWARD LOOKING STATEMENTS
Televisa files and submits annual reports to the US Securities
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 filings with the US Securities and Exchange
Commission, and this summary as well as the other filings with
and submissions to the US Securities and Exchange Commission
are and will be available through the office of investor relations
upon written request.
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
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.televisair.com
www.televisair.com