Grupo Televisa SAB ADR

TV: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$4.20	Qdtz	Vkw

Televisa Reports Mixed Q1 Despite Continued Broadband Growth; Video Losses at Sky Are Accelerating

Neil Macker

Apr 27, 2022

Televisa’s cable segment, now its main segment, kicked off 2022 with a mixed quarter, highlighted by consumer broadband growth offset by a decline in enterprise revenue. The merger of the firm’s content business with Univision was completed in January, turning Televisa into a bet on broadband and pay-TV penetration within Mexico, with a large equity stake in TelevisaUnivision. We are maintaining our fair value estimate of $14.

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