Grupo Televisa SAB ADR

TV: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$2.60	Srxx	Jrv

Televisa Reports Slightly Stronger-Than-Expected Q3; Broadband Demand Continues to Drive Growth

Neil Macker

Oct 22, 2021

Televisa’s content segment continues to rebound from the pandemic, and the cable segment—now its main business—reported strong growth again for the third quarter. The merger of the firm’s content business with Univision remains on track for completion by the end of 2021. After the merger, Televisa will become a bet on broadband and pay-TV penetration in Mexico. We are maintaining our narrow moat rating and fair value estimate of $14.

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