Televisa issues MXN 6.9B mandatory convertible debentures
Grupo Televisa, S.A.B. issued zero-coupon mandatory convertible debentures for $6,917,800,007.42 Mexican pesos, as approved at its April 28, 2026 extraordinary shareholders’ meeting.
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Form Type
6-K
Rhea-AI Filing Summary
Grupo Televisa, S.A.B. issued zero-coupon mandatory convertible debentures for $6,917,800,007.42 Mexican pesos, as approved at its April 28, 2026 extraordinary shareholders’ meeting. These debentures will convert into Series A, B, D, L shares and/or CPOs one year after issuance, subject to regulatory approvals.
The shares issued upon conversion will represent 19.48% of Televisa’s capital stock and will be subject to a one-year lock-up after conversion. Proceeds will be used for general corporate purposes, including potential strategic telecom transactions in Mexico, capital expenditures and debt prepayment.
The debentures were privately placed with several investors, including Emilio Azcárraga Jean, Bernardo Gómez Martínez, Alfonso de Angoitia Noriega, Fintech Latam S.à r.l. and Eduardo Tricio Haro. After conversion, Fintech is expected to hold a 22.3% direct and indirect stake and has characterized its investment as passive.
Insights
Televisa raises MXN 6.9B via a dilutive, locked-up mandatory convertible.
Televisa has issued zero-coupon mandatory convertible debentures totaling $6,917,800,007.42, scheduled to convert into equity in one year. The conversion will create new Series A, B, D, L shares and/or CPOs representing 19.48% of the company’s capital stock.
This structure raises equity-linked capital without cash interest, but it embeds future dilution when the debentures convert. The one-year post-conversion lock-up on new shares may temper immediate secondary selling pressure while still permanently increasing the share count once conversion occurs.
Proceeds are earmarked for general corporate purposes, including potential strategic telecom transactions, capex, or debt prepayments, but specific projects are not detailed. Fintech Latam S.à r.l. is set to reach a 22.3% stake and labels its position as passive, which shapes governance expectations without implying an activist role.
Key Figures
Mandatory convertible size: $6,917,800,007.42 Mexican pesos
Equity represented on conversion: 19.48% of capital stock
Fintech ownership post-conversion: 22.3% of capital stock
+3 more
6 metrics
Mandatory convertible size
$6,917,800,007.42 Mexican pesos
Total principal amount of zero-coupon mandatory convertible debentures
Equity represented on conversion
19.48% of capital stock
Portion of Televisa’s capital stock new shares will represent once converted
Fintech ownership post-conversion
22.3% of capital stock
Fintech Latam’s direct and indirect participation after debenture conversion
Conversion period
1 year
Mandatory conversion date is one year after issuance
Lock-up period
1 year
New shares subject to one-year lock-up following conversion
Pricing reference window
30 calendar days
VWAP period for CPOs used to determine subscription price
Key Terms
mandatory convertible debentures, zero-coupon, lock-up period, extraordinary general shareholders’ meeting, +2 more
6 terms
mandatory convertible debentures financial
"the Company issued zero-coupon mandatory convertible debentures (obligaciones forzosamente convertibles) into shares"
zero-coupon financial
"today the Company issued zero-coupon mandatory convertible debentures"
lock-up period financial
"will be subject to a one-year lock-up period following conversion of the Convertible Debentures"
A lock-up period is a fixed time after a stock offering during which company insiders and early investors are legally barred from selling their shares. It matters because when that restriction expires a large block of previously locked-up shares can enter the market at once, potentially lowering the stock price or spiking trading volume—like opening a floodgate—so investors monitor these dates to anticipate price moves and manage risk.
passive in nature financial
"Fintech will have a participation... and has informed the Company that its investment is passive in nature"
volume-weighted average trading price financial
"taking into account the volume-weighted average trading price of the CPOs during the 30 calendar days prior"
Volume-weighted average trading price (VWAP) is the average price of a stock over a trading period, where each trade’s price is weighted by how many shares changed hands, so big trades move the average more than small ones. Investors use VWAP as a benchmark to tell whether they bought or sold at a good price compared with the market’s trading activity—like checking if your grocery bill was close to the store’s typical daily average when many customers shopped.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What financing did Grupo Televisa (TV) announce in this 6-K filing?
Grupo Televisa issued zero-coupon mandatory convertible debentures totaling $6,917,800,007.42 Mexican pesos. These securities will convert into Series A, B, D, L shares and/or CPOs in one year, subject to regulatory approvals, providing equity-linked funding without cash interest payments.
How much of Televisa’s equity will the new convertible debentures represent?
Upon conversion, the new shares from the debentures will represent 19.48% of Televisa’s capital stock. This means a significant future increase in the number of outstanding shares when the mandatory conversion occurs after the one-year period, assuming regulatory approvals are obtained.
What will Fintech Latam’s ownership be in Grupo Televisa (TV) after conversion?
Following conversion of the debentures, Fintech Latam S.à r.l. is expected to hold a 22.3% direct and indirect participation in Televisa’s capital stock. Fintech has informed the company that this investment is passive in nature and has entered into a corresponding agreement reflecting that stance.
How will Grupo Televisa (TV) use the proceeds from the convertible debentures?
Televisa plans to use the debenture proceeds for general corporate purposes, including potential strategic transactions in the Mexican telecom sector, capital expenditures, or prepayment of indebtedness. The filing does not tie the funds to any single specific project or acquisition.
Who subscribed to Grupo Televisa’s new mandatory convertible debentures?
The debentures were privately placed with various investors, including Emilio Azcárraga Jean, Bernardo Gómez Martínez, Alfonso de Angoitia Noriega, Fintech Latam S.à r.l., and Eduardo Tricio Haro. Some of these investors are closely associated with Televisa’s existing shareholder and leadership base.
How was the subscription price for Televisa’s convertible debentures determined?
The subscription price was set based on market price, using the volume-weighted average trading price of Televisa’s CPOs over the 30 calendar days prior to issuance. This pricing method links the debentures’ economic terms to recent market valuations of the company’s listed securities.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of June, 2026
Commission File Number: 001-12610
GRUPO TELEVISA, S.A.B.
(Translation of registrant’s name into English)
Av. Vasco de Quiroga No. 2000, Colonia Santa Fe 01210 Mexico City, Mexico
(Address of principal executive offices)
(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)
Form 20-F ☒ Form 40-F ☐
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Investor Relations
PRESS RELEASE
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Televisa informs
Mexico
City, June 3, 2026 – Grupo Televisa, S.A.B. (“Televisa” or the “Company”; NYSE:TV; BMV: TLEVISA CPO) announces that, in compliance with the
resolutions adopted by the Company’s extraordinary general shareholders’ meeting held on April 28, 2026, today the Company issued zero-coupon mandatory convertible debentures (obligaciones forzosamente
convertibles) into shares in the amount of $6,917,800,007.42 Mexican pesos (the “Convertible Debentures”).
The Convertible Debentures will not accrue interest and will be mandatorily converted into Series “A”, “B”,
“D” and “L” shares of the Company and/ or ordinary participation certificates (“CPOs”) on the date that is one year following their issuance, subject to obtaining the applicable regulatory authorizations. The shares issued to support the
conversion of the debentures will represent 19.48% of the Company’s capital stock once converted and will be subject to a one-year lock-up period following conversion of the Convertible Debentures, during which such shares may not be transferred to
third-parties.
The subscription price of the Convertible Debentures was determined based on market price, taking into
account the volume-weighted average trading price of the CPOs during the 30 calendar days prior to the issuance of the debentures.
The proceeds from the issuance will be used by the Company for general corporate purposes, including
potential strategic transactions in the Mexican telecom sector, capital expenditures or prepayment of indebtedness.
The Convertible Debentures were privately placed and were subscribed by various investors including Messrs.
Emilio Azcarraga Jean, Bernardo Gómez Martinez and Alfonso de Angoitia Noriega, as well as Fintech Latam S.á r.l. (“Fintech”) and Mr. Eduardo Tricio Haro. Once the debentures are converted, Fintech will have a participation, directly and
indirectly, of 22.3% of the Company’s capital stock and has informed the Company that its investment is passive in nature, for which it has entered into the corresponding agreement.
In order to maintain the capital structure and the proportion of the Company’s Series “A” shares relative to the other share
series and comply with the requirements under the law and its bylaws, Messrs. Azcárraga, Gómez, and Angoitia subscribed for Convertible Debentures that will convert into Series “A” shares of the Company under the same terms and at the same price
per share.
About Televisa
Grupo Televisa S.A.B. (“Televisa”) is a major telecommunications company that owns and operates one of
the most significant cable network groups as well as a leading direct-to-home satellite pay television system in Mexico. Televisa’s cable networks offer integrated services, including high-speed data, video, mobile, and voice to residential and
commercial customers as well as telecommunications managed services to domestic and international enterprises. Televisa also offers pay television and broadband services through its direct-to-home satellite system. Televisa holds a number of
concessions by the Mexican government that authorizes it to broadcast programming over television stations for the signals of TelevisaUnivision, Inc. (“TelevisaUnivision”), and Televisa’s cable networks and satellite system. In addition, Televisa
is the largest shareholder of TelevisaUnivision, a leading media company producing, creating, and distributing Spanish-speaking content through several broadcast channels in Mexico, the U.S. and, over 50 countries through television networks,
cable operators, and over-the-top or OTT services.
Disclaimer
This press release contains forward-looking statements regarding the Company’s results and prospects.
Actual results could differ materially from these statements. The forward-looking statements in this press release should be read in conjunction with the factors described in “Item 3. Key Information – Forward-Looking Statements” in the Company’s
Annual Report on Form 20-F, which, among others, could cause actual results to differ materially from those contained in forward-looking statements made in this press release and in oral statements made by authorized officers of the Company.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
Contact Information
Investor Relations
www.televisair.com.mx
Tel: (52 55) 5261 2445
Rodrigo Villanueva, VP, Head of Investor Relations / rvillanuevab@televisa.com.mx
Andrés Audiffred, Investor Relations Director / aaudiffreda@televisa.com.mx
Nicolás Espinoza, Investor Relations Manager/ nespinozam@televisa.com.mx
Media Relations
Tel: (52 55) 5224 6420
Rubén Acosta, Communications General Director / racostamo@televisaunivision.com
Florencia López de Rodas, Communications and Media Director / flopezd@televisa.com.mx
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
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GRUPO TELEVISA, S.A.B.
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(Registrant)
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Date: June 4, 2026
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By:
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/s/ Luis Alejandro Bustos Olivares
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Name:
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Luis Alejandro Bustos Olivares
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Title:
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Legal Vice President and General Counsel
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