Grupo Televisa S.A.B. filings document a Mexican foreign private issuer with telecommunications operations centered on a Telecom segment that combines Cable and Sky activities. Form 6-K reports and annual Form 20-F materials disclose IFRS financial statements, management commentary, residential, satellite and enterprise revenue categories, network investment, subscriber metrics, operating segment income, cash flow, credits, derivatives and foreign-currency positions.
The filings also cover Televisa's government concessions for broadcast signals, its ownership position in TelevisaUnivision, credit rating actions, debt and capital-structure disclosures, shareholder meeting materials, board composition, securities ownership notices and Mexican market communications related to trading activity.
Grupo Televisa reported that S&P Global Ratings downgraded its issuer credit and issue-level ratings to 'BBB-' from 'BBB'. S&P Global’s Mexican national scale issuer and issue-level ratings were also lowered to 'mxAA+' from 'mxAAA', and the outlook is negative. Televisa highlights its position as a major Mexican telecommunications and media company, with significant cable, satellite pay TV, broadband operations and a large ownership stake in TelevisaUnivision.
GRUPO TELEVISA, S.A.B. officer Francisco Valim exercised and sold compensation-linked CPOs. He exercised 225,000 CPOs from a Long Term Retention Plan at a stated exercise price of 0.0900 per CPO, then sold 225,000 CPOs in an open-market transaction at 0.5700 per CPO.
Following these transactions, he reported holding no CPOs directly. A footnote states the sale price reflects a volume weighted average, with actual prices ranging from 9.9100 to 9.9900 Mexican Pesos per CPO and a currency conversion rate of 17.3969 Mexican Pesos per US dollar as of May 1, 2026.
Grupo Televisa reported 2025 telecom revenue of Ps.58,878.2 million, down 5.4% from 2024, mainly from a 17.5% decline in Satellite revenue. Residential revenue slipped 1.8% and Enterprise grew slightly.
Operating segment income was Ps.23,021.9 million with a 39.1% margin, while operating income improved to Ps.4,224.9 million from a loss in 2024. Despite this, net loss attributable to stockholders widened to Ps.9,168.3 million, driven largely by non‑cash deferred tax asset write‑offs and higher losses from TelevisaUnivision.
Fourth‑quarter telecom revenue fell 4.5% year‑on‑year, but operating segment margin rose to 40.9% as cost efficiencies took hold. Residential RGUs grew in mobile, broadband, and voice, while video and Satellite RGUs declined sharply.
Televisa invested about U.S.$645.0 million (Ps.12,186.6 million) in capex and cut total debt and lease liabilities to Ps.91,430.2 million, with consolidated net debt of Ps.48,999.8 million. The Board approved suspending the 2026 dividend while analyzing Mexican telecom investment opportunities and potential capital raising.
GRUPO TELEVISA, S.A.B. director Carlos Hank González reported both a sale and an exercise of CPOs. He completed an open-market sale of 44,500 CPOs at an average price of $0.57 per CPO, executed by a trust on his behalf together with other participants. He also exercised 277,500 CPOs held in a Stock Purchase Plan at a conversion price of $0.09 per CPO. After these transactions, he directly holds 886,400 CPOs.
GRUPO TELEVISA, S.A.B. director Eduardo Tricio Haro reported plan-related trades in CPOs. He completed an open-market sale of 44,500 CPOs at $0.57 per CPO and exercised in-the-money rights to acquire 277,500 CPOs at a conversion price of $0.09 per CPO.
The derivative exercise was executed through a Stock Purchase Plan for Directors, with a trust selling a portion of the CPOs to pay the plan price and delivering the remainder to the director. Following these transactions, he directly holds 212,861,400 CPOs. Each CPO represents a basket of underlying Series A, B, L and D shares of Grupo Televisa.
GRUPO TELEVISA, S.A.B. director Michael T. Fries reported a mix of sales and exercises of CPOs. On May 4, 2026, he executed an open-market sale of 44,500 CPOs at an average price of $0.57 per CPO.
On the same date, he acquired 277,500 CPOs through an in-the-money exercise linked to a Stock Purchase Plan for Directors, at an exercise price of $0.09 per CPO. Following these transactions, he directly held 882,775 CPOs, and his plan-related derivative position was reduced to zero.
GRUPO TELEVISA, S.A.B. director Francisco Jose Chevez Robelo reported trading CPOs. On May 4, 2026 he sold 44,500 CPOs in an open-market transaction at an average price of $0.57 per CPO, with sales executed by a trust on his behalf.
On the same date, 277,500 CPOs were acquired through an in-the-money exercise of CPOs held in a Stock Purchase Plan at a conversion price of $0.09 per CPO. After these transactions, he directly holds 882,775 CPOs. Each CPO represents a bundle of Televisa shares across several series.
GRUPO TELEVISA director Salvi Rafael Folch Viadero reported both a sale and an option-style exercise of CPOs. He sold 44,500 CPOs in open-market transactions at an average price of $0.57 per CPO. He also exercised 277,500 CPOs from a Stock Purchase Plan at $0.09 per CPO, with a trust selling part of these CPOs at vesting to pay Ps.1.60 per CPO and delivering the remainder to him. Following these transactions, he holds 233,000 CPOs directly.
GRUPO TELEVISA, S.A.B. director Guadalupe Phillips Margain reported a mix of sales and exercises involving CPOs. She completed an open-market sale of 44,500 CPOs at $0.57 per CPO and exercised 277,500 CPOs from a Stock Purchase Plan at an exercise price of $0.09 per CPO. Following these transactions, she directly holds 882,775 CPOs. Each CPO represents specified numbers of Series A, B, L and D shares of Grupo Televisa. A trust that administers the Stock Purchase Plan will sell part of the vested CPOs to pay Ps.1.60 per CPO and deliver the remaining CPOs to her.
GRUPO TELEVISA, S.A.B. Administrative Advisor Jose Antonio Chedraui Eguia reported an open-market sale and a derivative exercise involving CPOs. On May 4, 2026, he sold 44,500 CPOs at an average price of $0.57 per CPO in an open-market transaction.
On the same date, he exercised 277,500 CPOs from a Stock Purchase Plan at $0.09 per CPO, converting plan-held derivative CPOs into directly held CPOs. Following these transactions, his direct holdings increased to 890,073 CPOs, while the Stock Purchase Plan position was reduced to zero. Each CPO represents specified numbers of Series A, B, L and D shares of Grupo Televisa.