Televisa Reports Q1 Loss


Grupo Televisa recorded a first-quarter loss of 8.9 billion pesos ($365 million) on revenues that were relatively flat at 23.2 billion pesos ($952 million).

The Mexican media giant attributed the loss to the impact of the Mexican peso depreciation and an adjustment in the carrying value of its interest in Univision.

Revenues were up at the company’s cable segment, driven by gains in broadband and voice customers. Meanwhile, content revenues fell by 6.4 percent to 6.7 billion pesos ($275 million), as ad revenues fell 28.4 percent, while subscription, licensing and syndication revenues all rose.