Grupo Televisa SAB ADR

TV: XNYS (USA)
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Televisa Earnings: Broadband Competition Remains Irrational, and AT&T Benefits Are Unclear

Televisa's revenue declined 3.8% in the third quarter. Core telecom revenue was roughly flat, and Sky remains in steep decline. Profitability continued to improve, helped by Sky's highly variable cost structure and efficiency gains. The firm will invest $400 million for its 50% stake in AT&T Mexico.

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