Mexican media company Televisa reported on Thursday net losses of 10,611.6 million Mexican pesos (approximately 620 million dollars) for the entirety of 2023, following net profits of 45,283.9 million pesos (1,646.6 million dollars), as reported by the Spanish news agency EFE.
The corporate report showed a reduction in year-on-year losses only in the fourth quarter. Comparing the period from October to December, Televisa recorded a net loss of 9,022 million pesos (approximately 523 million dollars) in 2023, compared to the negative balance of 12,165 million pesos in the same period of 2022 (710,9 million dollars).
The data from the Mexican media giant comes from its latest quarterly corporate report, issued to the Mexican Stock Exchange (BMV), in which Televisa attributed its decline in 2023 to the absence of profit from discontinued operations due to the merger between Televisa and Univision, EFE highlighted
"These unfavorable variations were partially offset by a decrease in net financial expenses; a decrease in the share of losses from associates and joint ventures, net; and a favorable change in net profit or loss attributable to non-controlling interests," Televisa indicated.
The multinational broadcaster and telecommunications company also reported an accumulated profit of 73,767.9 million Mexican pesos (equivalent to 4,311.4 million dollars) between January and December 2023. This represents a slight decrease compared to the 75,526.6 million Mexican pesos (4,414.2 million dollars) earned during the same period in 2022.
In addition, Televisa reported an operating profit of 2,663.7 million Mexican pesos (155.7 million dollars), which is significantly lower than the previous year, when it earned 4,418.6 million Mexican pesos (258.2 million dollars).
As reported by EFE, the company emphasized the division of its businesses and the individual placement of the América football club, the Azteca Stadium (set to host the upcoming 2026 FIFA World Cup), and its betting division, Play City.
In August 2023, Televisa reached a $95 million settlement to resolve a U.S. investor lawsuit accusing the Mexican broadcaster of bribing FIFA soccer officials to win rights to four World Cup tournaments.
Televisa argued that some of the responsibility for the company's underperformance was attributed to Sky, its satellite television unit that also produces content and several television channels, as reported by the Reuters agency.
Televisa stated that Sky recorded 160,400 net organic user disconnections in the forth quarter, and the revenues of the satellite unit decreased by 15.3% year-on-year to 4,181 million pesos during the period.
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