Grupo Televisa, S.A.B
(NYSE:TV)

Grupo Televisa, S.A.B. operates as a media company in the Spanish-speaking world. The company operates through four segments: Cable, Sky, Content, and Other Businesses. The Cable segment operates cable multiple system and telecommunication facilities. It provides basic and premium television subscri...

Website: http://www.televisa.com

Founded: 1973

Full Time Employees: 43,073

Sector: Communication Services

Industry: Broadcasting

Media

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At a glance:

Bull Thesis:

Bear Thesis:

Main Competitors:

Moat:

Income Statements:

Quarterly

Annual

Unit: USD	2025-10-23	2025-07-22	2025-05-06	2025-04-30	2025-04-29	2025-02-20	2024-12-31	2024-10-24	2024-07-23	2024-05-07	2024-04-30	2024-04-26	2024-02-23	2024-02-16	2023-11-01	2023-10-26	2023-07-27	2023-05-05	2023-04-26	2023-03-01	2023-02-23	2022-12-31	2022-10-27	2022-08-02	2022-08-01	2022-07-27	2022-04-27	2022-04-26	2022-02-28	2021-12-31	2021-10-21	2021-07-06	2021-05-10	2021-04-30	2021-04-23	2021-02-23	2020-12-31	2020-10-23	2020-10-22	2020-10-21	2020-07-08	2020-07-07	2020-05-05	2020-04-28	2020-04-27	2020-02-21	2020-02-20	2019-12-31	2019-10-24	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2007-12-31

revenues				14,973,600,000		15,226,400,000		15,362,800,000	15,720,300,000		15,951,400,000				18,315,700,000	18,315,700,000	18,520,200,000		18,519,600,000
cost of revenues	-9,258,700,000	-9,019,700,000		-9,215,400,000		10,254,400,000			10,506,600,000				12,278,700,000			12,409,300,000			12,082,000,000
selling expenses	-1,655,100,000	-2,247,900,000		-2,029,400,000		2,129,700,000			2,199,100,000				2,563,400,000			2,132,100,000			2,238,500,000		2,729,600,000					1,970,600,000		2,133,200,000		2,723,346,000	2,642,400,000	2,571,900,000			2,522,600,000	2,797,900,000			2,312,300,000			2,538,400,000			2,718,000,000		2,848,900,000	2,754,811,000	2,797,200,000
administrative expenses	-2,740,700,000	-2,234,200,000		-2,640,100,000		3,042,100,000			2,395,500,000				3,239,400,000			3,134,100,000			2,813,200,000		3,316,800,000					2,666,500,000		2,843,400,000		3,728,593,000	3,002,400,000	3,251,400,000			3,728,300,000	3,285,700,000			2,856,600,000			2,940,300,000			3,631,100,000		3,187,700,000	3,187,691,000	3,057,300,000
income before other income or income	972,500,000	1,227,600,000							619,100,000
other income	-43,700,000	-274,200,000		-198,700,000				-319,300,000			2,293,200,000		213,900,000		3,000,000		2,000,000				-346,300,000				-40,900,000	-278,300,000				3,233,508,000	-293,700,000	-398,900,000				-399,900,000			666,000,000			-293,500,000			284,900,000		-234,300,000	-455,287,000	-389,400,000
operating income	928,800,000	953,400,000		890,000,000				364,700,000	89,500,000		2,925,900,000		544,800,000		-77,100,000		992,200,000		1,203,700,000		-163,900,000				1,551,700,000	1,658,700,000	281,699,000	1,637,400,000		9,819,971,000	4,831,200,000	3,985,700,000			3,540,500,000	5,860,300,000			5,569,100,000			2,693,200,000			3,426,600,000		5,032,900,000	4,828,930,000	4,595,700,000
yoy				144.04%					-83.57%		-3894.94%		-45.09%		-106.41%		-705.37%				-110.56%					-83.11%	-94.17%	-58.92%			36.46%	-31.99%			-36.43%										-25.44%
qoq	-2.58%							307.49%					NaN%	NaN%											-6.45%	488.82%	-82.80%			103.26%	21.21%				-39.59%												4.22%	5.07%
operating margin %	Infinity%	Infinity%	NaN%	Infinity%	NaN%	NaN%	NaN%	Infinity%	Infinity%	NaN%	Infinity%	NaN%	Infinity%	NaN%	-Infinity%	NaN%	Infinity%	NaN%	Infinity%	NaN%	-Infinity%	NaN%	NaN%	NaN%	8.37%	Infinity%	12.23%	8.80%	NaN%	Infinity%	Infinity%	Infinity%	NaN%	NaN%	14.86%	Infinity%	NaN%	NaN%	Infinity%	NaN%	NaN%	Infinity%	NaN%	NaN%	Infinity%	NaN%	Infinity%	Infinity%	Infinity%
finance expense	-1,834,500,000	-2,896,800,000											-1,990,700,000				-751,500,000				-2,808,000,000					-2,802,300,000	137,812,000			-2,228,407,000	-5,078,400,000	-2,810,100,000				-4,127,400,000			-3,043,500,000	-10,140,380,000		-2,891,900,000			-11,129,600,000		-3,117,100,000	-2,651,598,000	-3,791,000,000
finance income	1,159,100,000	1,224,400,000		1,421,300,000		1,011,700,000			1,282,700,000				904,500,000			941,400,000			883,400,000		594,400,000					1,796,000,000	338,920,000	338,900,000		47,122,000	186,000,000	2,156,700,000			121,300,000	6,513,100,000			3,353,100,000	573,090,000		2,803,000,000			2,422,000,000		1,719,000,000	1,253,603,000	920,800,000
share of income of associates and joint ventures	843,000,000	1,211,500,000		91,200,000					338,300,000							588,800,000			96,800,000		-13,713,000,000					888,400,000		465,400,000		1,490,577,000	1,240,300,000	889,200,000			51,800,000	-438,500,000			-119,900,000			137,600,000			-5,348,600,000			91,423,000	159,900,000
income before income taxes	1,096,400,000	492,500,000		552,500,000									-7,461,900,000								-16,090,500,000					1,540,800,000	143,887,000			9,129,263,000	1,179,100,000	4,221,500,000				7,807,500,000			5,758,800,000			2,741,900,000			-10,629,600,000		3,726,300,000	3,522,358,000	1,885,400,000
income tax	-3,008,100,000
net income from continuing operations	-1,911,700,000	552,500,000		331,500,000					-78,000,000				-9,022,300,000								-14,138,800,000					1,121,200,000
income from discontinued operations																					318,900,000					1,300,400,000	100,721,000	54,765,400,000
net income				331,500,000							951,700,000						172,500,000								3,289,400,000
yoy
qoq
net income margin %	NaN%	NaN%	NaN%	Infinity%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	Infinity%	NaN%	NaN%	NaN%	NaN%	NaN%	Infinity%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	17.75%	NaN%	0%	0%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	0%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%
net income attributable to:
stockholders of the company				319,800,000																								52,642,100,000
non-controlling interests	20,800,000	78,000,000		11,700,000									-360,300,000						78,800,000		-70,200,000					239,900,000		214,500,000		493,459,000	307,100,000	239,800,000			258,600,000	278,300,000			289,900,000			249,900,000			748,200,000	1,112,854,000	416,500,000	416,574,000	403,400,000
basic earnings per cpo attributable to stockholders of the company:
continuing operations				120,000				128,100,000	-10,000		120,000,000														238,900,000
discontinued operations										170	800,000									2,330	120,000					460,000	2,302,875,000	19,400,000
total				120,000				128,100,000	-10,000	323,976,500	120,800,000				-717,300,000		-181,200,000	-18,037,000,000		-18,037,000					238,900,000		2,820,200	18,680,000
income tax benefit		60,000,000				1,241,300,000			84,200,000				-1,560,400,000						188,000,000		1,951,700,000					-419,600,000	762,937,000	878,100,000				-1,800,000,000			103,500,000										1,725,900,000
income before other income or expense				1,088,700,000																																									3,141,700,000
income taxes																											43,166,000			8,553,678,000	-111,400,000					3,858,900,000			-2,119,200,000								803,700,000	695,645,000	726,800,000
share of loss of associates and joint ventures													-6,920,500,000
capital expenditures								3,000,000			1,000,000				3,000,000		2,000,000
cable								115,300,000		18,727,413,000	95,900,000				141,000,000		152,300,000			48,260,373			35,905,082,000		183,900,000		11,804,454,000		47,283,393,000				44,656,751,000
sky								11,400,000		5,731,417,000	24,000,000				28,400,000		40,600,000			20,335,234			15,399,684,000		54,900,000		5,275,731,000		21,431,843,000				21,553,431,000							16,654,268,000						2,254,480,000
corporate assets								1,400,000
current portion of long-term debt								4,285,700,000			13,578,500,000				9,982,800,000		9,977,600,000								1,000,000,000		616,991,000
long-term debt, net of current portion								94,254,400,000			73,570,600,000				80,721,600,000		85,442,400,000								112,720,200,000		112,584,750,000		122,888,795,000				123,259,789,000
total debt								98,540,100,000			87,149,100,000				90,704,400,000		95,420,000,000								113,720,200,000		114,134,532,000		126,999,199,000				123,877,278,000							125,434,757,000
current portion of long-term lease liabilities								1,175,000,000			1,143,900,000				1,266,800,000		1,289,500,000								1,451,400,000
long-term lease liabilities, net of current portion								4,161,600,000			4,791,800,000				6,250,700,000		6,440,900,000								7,135,400,000
total lease liabilities								5,336,600,000			5,935,700,000				7,517,500,000		7,730,400,000								8,586,800,000				9,680,559,000				9,292,351,000							9,208,481,000
total debt and lease liabilities								103,876,700,000		67,234,961,000	93,084,800,000				98,221,900,000		103,150,400,000	78,394,246,000,000		78,394,246,000			80,752,208,000		122,307,000,000		3,025,368,000		91,540,426,000				95,894,527,000
operating segment income								5,717,100,000			5,883,400,000				6,415,000,000		6,814,000,000								7,045,700,000
the operating segment income margin is calculated as a percentage of segment revenues.
net income attributable to stockholders of the company											951,800,000						133,500,000								3,140,400,000		18,680						1,600
segment revenues								15,406,500,000			15,992,300,000				18,419,200,000		18,658,600,000
intersegment operations								-43,700,000			-40,900,000				-103,500,000		-138,400,000
corporate expenses								-61,200,000			-185,800,000				-189,800,000		-238,300,000								-285,200,000
depreciation and amortization								-4,907,500,000			-5,035,000,000				-5,544,100,000		-5,354,700,000								-5,167,500,000
ticker:
period covered by financial statements:								2,024,000,000			2,024,000,000				2,023,000,000		2,023,000,000								2,022,000,000
date of end of reporting period:								2,024,000,000			2,024,000,000				2,023,000,000		2,023,000,000								2,022,000,000
name of reporting entity or other means of identification:
description of presentation currency:
level of rounding used in financial statements:
consolidated:
number of quarter:								3,000,000			1,000,000				3,000,000		2,000,000								2,000,000
type of issuer:
explanation of change in name of reporting entity or other means of identification from end of preceding reporting period:
description of nature of financial statements:
equity instruments measured at fair value through other comprehensive income:
open-ended fund										674,451,000													707,821,000				834,849,000		945,176,000				4,688,202,000	927,868,000						46,800
publicly traded equity instruments										1,912,150,000								2,611,053,000,000		3,517,711,000			2,046,283,000				3,022,025,000		3,517,711,000											3,181,875,000
other																		5,223,000,000					5,223,000				5,223,000		5,223,000					631,041,000						5,223,000						51,245,000
ps.										2,586,601,000													2,759,327,000				3,862,097,000		6,076,079,000				83,281,627,000	5,703,301,000
at january 1, 2023										773,209,000
change in fair value in other comprehensive loss
at december 31, 2023										674,451,000
at january 1, 2022										945,176,000													945,176,000				945,176,000
disposition of investments
at december 31, 2022										773,209,000
5.
associates:
televisaunivision and subsidiaries										43,700								44,400,000					44,600
joint ventures:
grupo de telecomunicaciones de alta capacidad, s.a.p.i. de c.v. and subsidiaries										33,300								33,300,000					33,300						33,300											33,300
periódico digital sendero, s.a.p.i. de c.v. and subsidiary										50,000								50,000,000					50,000						50,000											50,000
buildings																											9,519,573,000		10,127,239,000				9,816,944,000
building improvements																											183,313,000		183,735,000				183,368,000							183,812,000
technical equipment																											172,885,658,000		172,795,206,000				157,262,188,000							166,921,512,000
satellite transponders																											6,026,094,000		6,026,094,000				6,026,094,000							6,026,094,000
furniture and fixtures																											1,180,905,000		1,298,803,000				1,263,800,000							1,272,809,000
transportation equipment																											3,046,659,000		3,407,907,000				3,122,232,000							3,350,312,000
computer equipment																											9,063,900,000		9,514,099,000				9,198,382,000							9,328,531,000
leasehold improvements																											3,397,879,000		3,728,496,000				3,605,636,000							3,681,688,000
accumulated depreciation																													-138,586,625,000											-134,692,688,000
land																											5,570,408,000		4,891,626,000				4,886,600,000							4,876,161,000
construction and projects in progress																											15,004,154,000		14,535,546,000				12,873,670,000							16,277,235,000
others											100,000																526,887,000		321,460,000				231,138,000							166,113,000
intangible assets and goodwill with indefinite useful lives:
trademarks																											35,242,000		35,242,000				35,242,000							2,227,096,000
concessions																											15,166,067,000		15,166,067,000				15,166,067,000							15,166,067,000
goodwill																											13,904,998,000		14,036,657,000				14,113,626,000							14,113,626,000
intangible assets with finite useful lives:
licenses and software																											13,791,834,000		14,831,874,000				13,139,480,000							14,403,371,000
subscriber lists																											8,793,552,000		8,815,496,000				8,804,334,000							8,807,492,000
payments for concessions
other intangible assets																											5,880,362,000		5,438,091,000				5,169,795,000							5,534,833,000
u.s. dollar senior notes:
6.625% senior notes due 2025																											7,946,800,000		12,301,860,000				11,969,580,000
4.625% senior notes due 2026																											5,960,100,000		6,150,930,000				5,984,790,000							6,164,701,000
8.5% senior notes due 2032																											5,960,100,000		6,150,930,000				5,984,790,000							6,166,855,000
6.625% senior notes due 2040																											11,920,200,000		12,301,860,000				11,969,580,000							12,255,093,000
5% senior notes due 2045																											19,867,000,000		20,503,100,000				19,949,300,000							20,217,718,000
6.125% senior notes due 2046																											17,880,300,000		18,452,790,000				17,954,370,000							18,440,506,000
5.250% senior notes due 2049																											14,900,250,000		15,377,325,000				14,961,975,000							15,177,055,000
total u.s. dollar debt																											84,434,750,000		91,238,795,000				88,774,385,000
mexican peso debt:
8.79% notes due 2027																											4,500,000,000		4,500,000,000				4,500,000,000							4,485,648,000
8.49% senior notes due 2037																											4,500,000,000		4,500,000,000				4,500,000,000							4,488,641,000
7.25% senior notes due 2043																											6,500,000,000		6,500,000,000				6,500,000,000							6,448,685,000
bank loans																											10,000,000,000		16,000,000,000				16,000,000,000							15,932,525,000
total mexican peso debt																											29,699,782,000		35,760,404,000				35,102,893,000
less: current portion of long-term debt																											1,549,782,000		4,110,404,000				617,489,000							2,045,613,000
lease liabilities:
satellite transponder lease agreement
telecommunications network lease agreement
other lease liabilities																													6,223,035,000											5,610,944,000
less: current portion																													1,478,382,000				1,277,754,000							1,341,455,000
lease liabilities, net of current portion																													8,202,177,000				8,014,597,000
hedged items
investment in shares of televisaunivision
foreign exchange gain or loss derived from senior notes designated as hedging instruments
recognized in:
comprehensive gain																											2,383,398,000
total foreign exchange gain derived from hedging senior notes																											2,383,398,000
offset against:
foreign currency translation loss derived from the hedged net investment in shares of televisaunivision
foreign exchange loss derived from the hedged open-ended fund
total foreign currency translation and foreign exchange loss derived from hedged assets
debt										65,436,460,000								77,053,789,000,000		77,053,789,000			79,153,157,000				1,549,782,000		88,286,005,000				92,304,805,000
lease liabilities										1,798,501,000								1,340,457,000,000		1,340,457,000			1,599,051,000				1,475,586,000		3,254,421,000				5,473,792,000							3,110,555,000						5,121,534,000
the amounts of debt are disclosed on a principal amount basis.
10.
assets: cash and cash equivalents										51,130,992,000								25,828,215,000,000		25,828,215,000			25,828,215,000				61,071,991,000		29,058,093,000				27,452,265,000
trade accounts receivable										8,457,302,000
long-term loans and interest receivable from gtac										857,006,000								760,143,000,000		760,143,000			760,143,000				748,979,000		824,092,000				875,585,000							752,173,000						824,540,000
liabilities:
senior notes due 2025, 2032 and 2040										24,313,064,000													39,592,552,000				25,827,100,000		40,584,237,000				34,954,254,000
senior notes due 2045										14,975,508,000													24,205,140,000				19,867,000,000		24,282,886,000				19,739,047,000							20,618,000,000						17,317,748,000
senior notes due 2037 and 2043										8,087,840,000													8,722,100,000				11,000,000,000		9,238,435,000				8,986,870,000							11,000,000,000						7,905,625,000
senior notes due 2026 and 2046										23,287,882,000													31,714,380,000				23,840,400,000		31,811,792,000				26,645,193,000							24,741,600,000						24,051,128,000
senior notes due 2049										12,199,681,000													19,307,154,000				14,900,250,000		18,978,667,000				15,364,426,000							15,463,500,000
notes due 2027										4,238,640,000													4,509,405,000				4,500,000,000		5,035,860,000				4,656,375,000							4,500,000,000						4,027,275,000
long-term loans payable to mexican banks										13,775,125,000
december 31, 2023: derivative financial instruments
assets:
derivatives recorded as accounting hedges
interest rate swaps																											1,473,000
total assets																											368,117,000																			5,758,188,000
december 31, 2022: derivative financial instruments
derivatives not recorded as accounting hedges:
tvi’s forwards																											10,057,000
empresas cablevisión´s forwards
sky’s forwards																											14,054,000
forwards																											35,524,000
total liabilities																											225,000																			291,316,000
11.
series “a” shares										113,441,700								-5,606,300,000		-5,606,300							121,073,900													55,280,667,000
series “b” shares										50,345,400								-4,765,900,000		-4,765,900							57,046,900													187,000
series “d” shares										80,094,700								-3,832,400,000		-3,832,400							87,006,600													239,000
series “l” shares										80,094,700								-3,832,400,000		-3,832,400							87,006,600													239,000
shares in the form of cpos										267,744,500								-12,811,000,000		-12,811,000							290,849,700
shares not in the form of cpos										56,232,000								-5,226,000,000		-5,226,000							61,284,300
cpos										2,288,400								-109,500,000		-109,500							2,485,900													2,322,925,000
as of january 1, 2023										82,169,900
acquired																											-430,000
forfeited																											-14,600
released										1,003,100								2,355,600,000		2,355,600			1,862,800				768,200		1,716,100				154,500
as of december 31, 2023										80,094,700
as of january 1, 2022										81,873,700													81,873,700				114,085,000
as of december 31, 2022										82,169,900
repurchased or cancelled by the company in connection with a share repurchase program.
acquired, released, cancelled or forfeited by a company’s trust in connection with the company’s long-term retention plan described below.
12.
13.
14.
current receivables:
televisa, s. de r.l. de c.v.
televisa producciones, s.a. de c.v.																											84,429,000
televisaunivision																											133,684,000
tritón comunicaciones, s.a. de c.v.
eco producciones, s.a. de c.v.
cadena de las américas, s.a. de c.v.
non-current receivables:
televisa
current payables:
at&t
desarrollo vista hermosa, s.a. de c.v.
an indirect subsidiary of televisaunivision.
dismissal severance expense																																								-125,096,000
expense related to hurricane “otis”
legal and financial advisory and professional services
impairment adjustments
donations																																								-22,042,000
gain on disposition of property and equipment																											42,433,000
cancellation of a deferred compensation plan liability
interest income for recovery of asset tax from prior years
gain on disposition of ocen
lawsuit settlement agreement
interest expense																	-2,023,100,000
other finance expense																																								-965,263,000
foreign exchange loss																																								-2,392,442,000
interest income															778,500,000		889,300,000										338,920,000													573,090,000
other finance expense, net, included a fair value net income from derivative financial instruments.
17.
18.
total shares																											329,721,012,000
shares not in the form of cpo units:
basic earnings per cpo/share attributable to stockholders of the company										140										2,170			850
diluted earnings per cpo/share attributable to stockholders of the company										140										2.01			790
19.
year ended december 31, 2023:
other businesses										1,952,388,000					17,200,000		11,300,000			6,931,002			5,089,576,000		100,000		1,661,173,000		4,002,359,000				2,994,978,000							3,580,905,000
segment totals										26,411,218,000										75,526,609			56,394,342,000
reconciliation to consolidated amounts:
consolidated revenues and operating income before other income										3,522,223,000										75,526,609			56,394,342,000
consolidated revenues and operating income										2,655,404,000										75,526,609			56,394,342,000
year ended december 31, 2022:
this amount represents operating income before other income, net.
this amount represents consolidated operating income of continuing operations.
cable:
broadband services										21,440,699,000																	4,831,887,000													13,920,622,000
digital tv service										15,025,051,000																	3,932,596,000
telephony										4,374,783,000																	1,271,724,000													3,702,840,000
enterprise operations										4,776,552,000										258,946			179,737,000				1,097,443,000		241,472,000				313,332,000							4,180,418,000
advertising										2,162,410,000																	467,435,000													1,331,122,000
other services										1,023,029,000																	150,067,000													460,462,000
sky:
dth broadcast satellite tv										16,493,912,000										1,101,419			872,830,000				4,666,668,000		1,514,377,000				1,569,999,000							14,520,667,000
pay-per-view										52,198,000										12,309			7,083,000				56,883,000		11,167,000				11,464,000							33,518,000
other businesses:
gaming										2,966,724,000																	573,710,000													1,129,924,000
soccer, sports and show business promotion										2,697,562,000																	503,921,000													1,163,589,000
transmission concessions and facilities										1,685,931,000
publishing – magazines and advertising										256,995,000
publishing distribution										263,429,000																	59,647,000													229,069,000
intersegment eliminations																																								-5,632,505,000
consolidated total revenues										73,767,930,000																	19,574,964,000		1,926,210,000				2,013,601,000
20.
net income from discontinued operations
gain on disposition of discontinued operations																											54,664,682,000
cost of revenues and operating expenses
income before other income													330,900,000			640,200,000			1,385,900,000		182,400,000					1,937,000,000		1,805,700,000		3,300,700,000	5,124,900,000	4,384,600,000			3,693,400,000	6,260,200,000			4,903,100,000			2,986,700,000					5,267,200,000	5,284,217,000	4,985,100,000
gain on disposition of discontinued operations before income taxes
21.
22.
dividends paid, ordinary shares:
dividends paid, other shares:
dividends paid, ordinary shares per share:
dividends paid, other shares per share:
as of march 31, 2024 and december 31, 2023, total debt is presented net of finance costs in the amount of ps.1,247.7 million and ps.1,278.4 million, respectively.
cost of services and sales
rgus															3,000,000		2,000,000
video															-211,281,000,000		-164,094,000,000
broadband															-30,308,000,000		-32,860,000,000
voice															-33,000,000		-29,000,000
mobile															10,119,000,000		6,014,000,000
total rgus															-231,503,000,000		-190,969,000,000
cash															-912,600,000		-185,900,000
non-cash															195,300,000		4,700,000
foreign exchange gain															64,200,000		429,000,000
other finance income															98,700,000		-46,700,000
other equity instruments																		1,607,969,000,000		1,607,969,000									1,607,969,000				5,751,001,000	4,144,392,000						3,569,525,000						5,751,001,000
investments
change in fair value in other comprehensive income																		68,329,000,000					88,142,000				51,021,000		68,329,000																	-1,146,079,000
6.
investment property
7.
8.
payment for renewal of concessions																											5,825,559,000		5,825,559,000				5,825,559,000							5,825,559,000
9.
u.s. dollar debt:
offset against by:
foreign currency translation gain derived from the hedged net investment in shares of televisaunivision
total foreign currency translation and foreign exchange gain derived from hedged assets
credit facility
trade notes and accounts receivable																		13,093,011,000,000		13,093,011,000			13,093,011,000				8,725,292,000		12,343,797,000				14,486,184,000							15,414,332,000						19,748,850,000
tvi’s interest rate swap																											80,000
tvi’s interest rate swaps
repurchased
long-term retention plan
at&t / directv
15.
deferred compensation																																								-106,000,000
surcharges for payments of taxes of prior years
16.
investment in shares of televisaunivision, formerly known as uh ii
foreign currency translation gain derived from the hedged net investment in shares of televisaunivision, formerly known as uh ii
interest rate swap																											2,943,000
empresas cablevisión´s forward																											11,006,000
basic earnings per cpo/share
(*) series “a”, “b”, “d” and “l” shares, not in the form of cpo units.
diluted earnings per cpo/share
diluted earnings per cpo and per share attributable to stockholders of the company are calculated in connection with cpos and shares in the ltrp.
(*) series “a”, “b”, “d” and “l” shares not in the form of cpo units.
disaggregation of total revenues
publishing – magazines																											71,890,000
publishing – advertising																											24,039,000
consolidated total revenues of continuing operations																				1,372,674			1,059,650,000
publishing - magazines																											77,503,000		942,000				942,000							257,792,000
publishing - advertising																											17,362,000						23,461,000							92,440,000
seasonality of operations
net sales																									18,533,500,000		2,302,875,000	18,609,200,000							23,828,900,000
yoy
qoq																											-87.63%
cost of sales and operating expenses
share of income of associates
cost of sales																					12,903,500,000					11,899,800,000		11,826,900,000		15,773,421,000	15,358,200,000	14,545,300,000			13,884,600,000	15,438,900,000			13,871,000,000			13,941,800,000			13,738,000,000		16,699,400,000	17,041,462,000	14,946,500,000
at september 30, 2022																							707,821,000
at january 1, 2021																							1,135,803,000				1,135,803,000		1,135,803,000
at september 30, 2021																							964,989,000
satellite transponder lease obligation																													3,457,524,000				3,818,559,000
foreign exchange gain derived from the hedged open-ended fund
long-term notes payable to mexican banks																							20,417,854,000				14,199,782,000		19,801,142,000				23,012,707,000							19,421,026,000
september 30, 2022: derivative financial instruments
december 31, 2021: derivative financial instruments
as of september 30, 2022																							82,163,400
as of january 1, 2021																							81,022,400				113,019,200		81,022,400
as of september 30, 2021																							81,447,300
acquired, released, or forfeited by a company’s trust in connection with the company’s ltrp.
repurchased by the company in connection with a share repurchase program.
servicios rtmn, s.a. de c.v.																											29,845,000
televisa talento, s.a. de c.v.
net gain on disposition of ocen
expense related to covid-19
other income in connection with a claim on tariff differences																																								207,568,000
includes the service cost of a long-term deferred compensation plan for certain officers of the group’s cable segment, which becomes payable in the event that certain financial targets (as defined in the plan) are met.
includes severance expense in connection with dismissals of personnel, as a part of a continued cost reduction plan.
basic earnings per cpo/share from continuing operations
basic earnings per cpo/share from discontinued operations																							1,580
diluted earnings per cpo/share from continuing operations
diluted earnings per cpo/share from discontinued operations																							1,470
nine months ended september 30, 2022:
nine months ended september 30, 2021:
23.
share in income of associates and joint ventures																											51,826,000
income from continuing operations
assets
current assets:
cash and cash equivalents																											28,873,335,000
temporary investments																																								9,722,000						30,992,000
other accounts, taxes, and trade payables																											13,484,857,000
due to related parties																											899,785,000
transmission rights and programming																											7,551,908,000
other current assets
total current assets																																														1,045,367,000
non-current assets:
investments in financial instruments																											5,703,301,000
investment in associates and joint ventures																											23,455,760,000
property, plant and equipment
right-of-use assets																											6,912,451,000
intangible assets and goodwill																											42,676,193,000																			2,582,713,000
deferred income tax assets																											30,192,897,000
other non-current assets																											9,448,119,000
total non-current assets																											82,146,874,000
liabilities
current liabilities:
interest payable																											1,906,444,000
current portion of lease liabilities																											1,255,069,000
derivative financial instruments																											1,205,019,000
accounts payable to suppliers and cumulative expenses																											26,806,198,000
customer deposits and advances																											17,604,098,000
taxes payable																											6,377,423,000
employee benefits																											1,374,355,000
other current liabilities																											2,634,179,000																			291,316,000
total current liabilities																											59,877,685,000
non-current liabilities:
long-term debt																											124,218,225,000
advance from televisaunivision
deferred income tax liabilities																											1,817,346,000
post-employment benefits																											2,120,683,000
other non-current liabilities																											3,571,056,000
total non-current liabilities																											140,411,412,000
equity																											88,698,057,000
total liabilities and equity																											288,987,154,000
consolidated condensed proforma statement of income for the nine months ended september 30, 2021
see note 3 of the disclosure of the interim financial reporting.
capital expenditures millions of u.s. dollars																									2,000,000
operating segment income1																									7,045,700,000
1
segment net sales																									18,632,800,000
intersegment operations1																									-99,300,000
operating segment income2																									2,000,000
2
continuing operations:
discontinued operations:
at march 31, 2022																											834,849,000
at march 31, 2021																											927,868,000
uh ii and subsidiaries																													35,500
.
hedged ítems
investment in shares of uh ii and uhi																											2,778,200
foreign currency translation gain derived from the hedged net investment in shares of uh ii and uhi
march 31, 2022: derivative financial instruments
derivatives recorded as accounting hedges:
as of march 31, 2022																											114,408,600
as of march 31, 2021																											112,917,900
televisa, s. de r.l. de c.v																											5,774,269,000
publicidad virtual, s.a. de c.v.																											54,180,000
current payable:
gyali, s.a. de c.v.																											214,555,000
at&t/ directv																											92,744,000
income from continuing operations attributable to stockholders of the company
income from discontinued operations attributable to stockholders of the company																											19,400
2022:
segment total of continuing operations																											18,741,358,000
consolidated net sales and operating income before other income																											18,609,213,000		103,521,823,000											74,709,998,000
consolidated net sales and operating income of continuing operations																											18,609,213,000
consolidated net sales and operating income																											20,912,088,000		103,521,823,000
2021:
march 31, 2022:
transmission concessions rights and facilities of production																											285,871,000
march 31, 2021:
gain on sale from discontinued operations																											54,765,403,000
results from discontinued operations:
costs and expenses operations																											2,001,380,000
income before other incomes																											301,495,000
other incomes																											19,796,000
results on disposition of discontinued operations:
income																											91,781,845,000
costs																											17,168,599,000
expenses																											234,108,000
loss (income) from continuing operations
property, plant, and equipment																											84,100,646,000
consolidated condensed proforma statement of income for the three months ended march 31, 2021																											71,029,109,000
net income,																												52,856,600,000
at december 31, 2021																													945,176,000
at january 1, 2020																													33,775,451,000					33,775,451,000
exercised warrants
at december 31, 2020
ownership as of december 31, 2021
ocen and subsidiaries																																								40,000						40,000
the group accounts for its investment in common stock of uh ii (uhi through may 18, 2021, as described below), the parent company of univision, under the equity method due to the group’s ability to exercise significant influence, as defined under ifrs standards, over uh ii’s operations. the group has the ability to exercise significant influence over the operating and financial policies of uh ii because (i) it owns 5,701,335 class “a” shares of common stock of uh ii, representing 35.5% and 35.9% of the outstanding shares of uh ii and uhi on a fully-diluted basis, respectively, as of december 31, 2021 and 2020, respectively, and 40.1% and 40.6% of the voting shares of uh ii and uhi as of december 31, 2021 and 2020, respectively; and (ii) it has designated three members of the board of directors of televisaunivision (formerly, uh ii), one of which serves as chairman. the governing documents of televisaunivision provide for a 13-member board of directors; however, the board of directors currently consists of 11 members, and the group has the right to appoint the two additional directors. through december 29, 2020, the date on which the group exercised all of its outstanding warrants for common shares of uhi, the group had the ability to exercise significant influence over the operating and financial policies of uhi because (i) it owned 1,110,382 class “c” shares of common stock of uhi, representing 10% of the outstanding total shares of uhi and 14% of the voting shares of uhi, and 4,590,953 warrants issued by uhi, which upon their exercise, and together with the former investment in shares of uhi, represented approximately 36% on a fully-diluted, as-converted basis of the equity in uhi; and (ii) it had three officers and one director of the company designated as members of the board of directors of uhi, which was composed of 19 directors of 22 available board seats. the group was also a party to a program licensing agreement (“pla”), as amended, with univision, pursuant to which univision had the right to broadcast certain televisa content in the united states, and to another program license agreement pursuant to which the group had the right to broadcast certain univision’s content in mexico, in each case through 7.5 years after the group had voluntarily sold two-thirds of its initial investment in uhi. on february 25, 2020, uhi, searchlight capital partners, lp (“searchlight”), a global private investment firm, and forgelight llc (“forgelight”), an operating and investment company focused on the media and consumer technology sectors, announced a definitive agreement in which searchlight and forgelight would acquire a majority ownership interest in uhi from all stockholders of uhi other than the group. terms of the transaction were not disclosed. the group elected to retain its approximately 36% stake in uhi’s equity upon exercise of its warrants for shares of uhi common stock. under the terms of the acquisition, searchlight and forgelight would purchase the remaining 64% ownership interest from the other stockholders of uhi. the transaction was closed on december 29, 2020. in conjunction with this transaction and a related decline in the estimated fair value of the group’s investment in warrants issued by uhi, the company’s management recognized an impairment loss in the amount of ps.5,455,356 that decreased the carrying amount of the group’s investment in shares of uhi in the first quarter of 2020. this impairment adjustment was accounted for in share of income or loss of associates and joint ventures in the group’s consolidated statement of income for the year ended december 31, 2020. on may 18, 2021, uhi concluded a reorganization through a series of transactions (the “reorganization”) pursuant to which, among other things, uh ii acquired a controlling financial interest in uhi on that date. the reorganization was effectuated by uhi in connection with the transaction with the group concluded on january 31, 2022. as a result of the reorganization of uhi: (i) the group and other existing stockholders of uhi exchanged their shares of the capital stock of uhi for the same number and class of newly issued shares of uh ii; (ii) uhi issued common stock for approximately u.s.8.3 million
to a new investor and then these shares were exchanged for shares in uh ii; (iii) beginning on may 18, 2021, uh ii established a new basis of accounting, which resulted in the remeasurement of uh ii’s assets and liabilities to fair value as of such date; (iv) the group held an equity interest in the capital stock of uh ii of 35.5% on a fully-diluted basis; and (v) uh ii became a successor company of uhi (see notes 1, 3, 9, 14, 16 and 22).
ocen is engaged in the live entertainment business in mexico, central america and colombia. in 2020, the stockholders of ocen did not pay any dividends. beginning on may 31, 2020, the company (i) ceased to classify the investment in ocen, as current assets held for sale; (ii) began to classify its equity interest in ocen as an investment in associates and joint ventures in its consolidated statement of financial position; (iii) recognized in retained earnings as of january 1, 2020, its share of income of ocen, which was discontinued from august 1 through december 31, 2019, in the amount of ps.147,975; and (iv) began to recognize its share of income or loss of ocen since january 1, 2020. as of september 30, 2021, the group classified this non-current investment, which included goodwill of ps.359,613, as current assets held for sale, and beginning on october 1, 2021, the group discontinued the use of the equity method to account for the investment in this associate. ocen was disposed of by the group in december 2021 (see notes 3 and 14).
gtac was granted a 20-year contract for the lease of a pair of dark fiber wires held by the mexican federal electricity commission and a concession to operate a public telecommunications network in mexico with an expiration date in 2030. gtac is a joint venture in which a subsidiary of the company, a subsidiary of grupo de telecomunicaciones mexicanas, s.a. de c.v., and a subsidiary of megacable, s.a. de c.v., have an equal equity participation of 33.3%. in june 2010, a subsidiary of the company entered into a long-term credit facility agreement to provide financing to gtac for up to ps.688,217, with an annual interest rate of the mexican interbank interest rate (“tasa de interés interbancaria de equilibrio” or “tiie”) plus 200 basis points. under the terms of this agreement, principal and interest are payable at dates agreed by the parties, between 2013 and 2021. as of december 31, 2021 and 2020, gtac had used a principal amount of ps.688,183 under this credit facility. during the years ended december 31, 2021 and 2020 gtac paid principal and interest to the group in connection with this credit facility in the aggregate principal amount of ps.97,342 and ps.123,390, respectively. also, a subsidiary of the company entered into supplementary long-term loans to provide additional financing to gtac for an aggregate principal amount of ps.1,077,732, with an annual interest of tiie plus 200 basis points computed on a monthly basis and payable on an annual basis or at dates agreed by the parties. under the terms of these supplementary loans, principal amounts can be prepaid at dates agreed by the parties before their maturities between 2023 and 2030. during the years ended december 31, 2021 and 2020, gtac paid principal and interest to the group in connection with this credit facility in the aggregate principal amount of ps.147,413 and ps.122,656, respectively. the net investment in gtac as of december 31, 2021 and 2020, included amounts receivable in connection with this long-term credit facility and supplementary loans to gtac in the aggregate amount of ps.755,973 and ps.821,253, respectively. these amounts receivable are in substance a part of the group’s net investment in this investee (see note 9).
the group accounts for its investment in pds under the equity method, due to its 50% interest in this joint venture. as of december 31, 2021 and 2020, the group’s investment in pds included intangible assets and goodwill in the aggregate amount of ps.113,837.
comprehensive loss
total foreign exchange loss derived from hedging senior notes
foreign exchange gain derived from hedged warrants issued by uhi
foreign exchange gain derived from the hedged open- ended fund																																								111,793,000
december 31, 2020: derivative financial instruments
in connection with the company’s long-term retention plan (“ltrp”) described below.
as of december 31, 2021																													81,873,700
as of january 1, 2020																													84,083,800				84,083,800
cancelled and forfeited
as of december 31, 2020																													81,022,400				81,022,400
acquired, released, cancelled or forfeited by a company’s trust in connection with the company’s ltrp.
uh ii in 2021 and uhi in 2020, including univision
ocen																																		40,000						7,263,000
editorial clío, libros y videos, s.a. de c.v.																																								2,323,000
net gain on disposition of oise/ocen
net profit on disposal of radiópolis
accrued expense related to the disposal of the content business and other net assets
surcharges for payments of taxes from prior years
income for cash reimbursement received from imagina
includes the service cost of long-term deferred compensation plans for certain officers of the group’s cable segment, which become payable in the event that certain financial targets (as defined in the plans) are met.
other finance income or expense, net, included fair value gain or income from derivative financial instruments.
content																													30,804,228,000				27,933,202,000							24,382,646,000
segment total																													103,521,823,000				97,138,362,000							80,342,503,000
2020:
disposed operations																													223,272,000				223,272,000							223,272,000
this amount represents operating income before other income or expense, net.
this amount represents consolidated operating income
december 31, 2021:
content:
network subscription revenue																																								3,345,948,000
licensing and syndication																																								1,325,855,000
feature film production and distribution																													159,194,000				117,864,000							596,298,000
december 31, 2020:
see note 3 of the disclosure of interim financial reporting.
basic earnings per cpo attributable to stockholders of the company																																																192,500	260,000
other notes payable:
total other notes payable
other notes payable, net of current portion
investment in shares of uhi
warrants issued by uhi																																	33,775,451,000													34,921,530,000
foreign currency translation gain derived from the hedged net investment in shares of uhi
other notes payable																																	1,295,780,000
forward
tvi’s forward
sky’s forward
december 31, 2019: derivative financial instruments
as of january 1, 2019																																	84,502,900
as of december 31, 2019																																	84,083,800
cancelled and forfeited in connection with the company’s ltrp.
acquired by a company’s trust in connection with the company’s ltrp.
uhi, including univision
net gain on disposition of radiópolis
net gain on disposition of investments
legal, financial, and accounting advisory and professional services
interest income for recovered asset tax from prior years
eliminations and corporate expenses																																								-5,632,505,000
consolidated total before other income																																	97,361,634,000
consolidated total																																	97,361,634,000
2019:
this amount represents income before other income or expense, net.
this amount represents consolidated operating income.
december 31, 2019:
at march 31, 2020																																		20,746,213,000
uhi																																		35,900												10,000
grupo de telecomunicaciones de alta capacidad, s.a.p.i. de c.v. and subsidiary																																		33,300												33,300
periódico digital sendero, s.a.p.i. de c.v.																																		50,000												50,000
leases
other long-term debt
march 31, 2021: derivative financial instruments
as of march 31, 2020
grupo telecomunicaciones de alta capacidad, s.a.p.i. de c.v.
legal and financial advisory professional services																																								-283,020,000
decrease in benefit from uhi related party
expense to prevent covid-19																																								-139,912,000
march 31, 2020:
basic loss per cpo attributable to stockholders of the company
at september 30, 2020
uhi ii and subsidiaries																																								35,500
investment in shares of uhi ii and uhi
foreign currency translation gain derived from the hedged net investment in shares of uhi ii and uhi
september 30, 2021: derivative financial instruments
as of september 30, 2020
repurchased or cancelled by the company in connection with a share repurchase program. acquired or released by a company’s trust in connection with the company’s ltrp
uhi ii in 2021 and uhi in 2020, including univision
as of september 30, 2021 and december 31, 2020, receivables from uhi ii and uhi, respectively, related primarily to the pla amounted to ps.614,051 and ps.692,282, respectively.
loss on disposition of property and equipment																																								-127,067,000
surcharges for payment of taxes from prior years																																								-290,659,000
includes the service cost of long-term deferred compensation plans for certain officers of the group’s cable segment, which become payable in the event that certain financial targets (as defined) are met.
series “a”, “b”, “d” and “l” shares not in the form of cpo units.
september 30, 2021:
september 30, 2020:
income taxes benefits																																										-752,500,000
lease liabilities 1																																														-4,641,705,000
net effect
long-term lease agreements
contract costs, net:
total contract costs
controlling interest
effect on equity at january 1, 2018
3.
trade notes and accounts receivables																																														169,036,000
other accounts receivable primarily value-added tax																																														875,331,000
property and equipment																																														2,130,108,000
total net assets
4.
measured at fair value through other comprehensive income:
equity instruments:
open ended fund																																														4,688,202,000
other financial assets
at january 1, 2019
at december 31, 2019
at january 1, 2018
at december 31, 2018
7.38% notes due 2020
tiie + 0.35% notes due 2021
tiie + 0.35% notes due 2022
comprehensive income
foreign currency translation loss derived from the hedged net investment in shares of uhi
foreign exchange loss derived from hedged warrants issued by uhi
foreign exchange gain derived from the hedged open ended fund
lease obligations																																														3,232,403,000
total debt, lease liabilities and other notes payable
notes due 2020																																														9,605,700,000
notes due 2021																																														5,956,506,000
notes due 2022																																														4,941,430,000
short and long-term notes payable to mexican banks																																														13,551,620,000
december 31, 2018: derivative financial instruments
as of january 1, 2018
as of december 31, 2018
other taxes paid by sky in central america
interest receivable for asset tax from prior years
includes severance expense in connection with dismissals of personnel, as part of a cost reduction plan.
held-to-sale operations
2018:
contenidos
radio - advertising
december 31 2018:
radio – advertising
share of income (lost) of associates and joint ventures																																															91,500,000

Balance Sheets:

Quarterly

Annual

Unit: USD	2021-10-21	2021-07-06	2021-04-23	2021-02-23	2020-12-31	2020-10-22	2019-12-31	2018-10-26	2018-07-09	2018-04-26	2018-02-20	2017-10-26	2017-04-27	2017-02-23	2016-12-31	2016-02-25	2015-12-31	2015-04-24	2014-07-08	2014-04-29	2013-07-09	2013-04-25	2012-12-31	2012-04-27	2012-02-17	2011-02-18	2010-07-12	2009-10-23	2008-04-25	2007-12-31	2007-04-25	2007-02-21

assets
current assets:
cash and cash equivalents
temporary investments	9,700,000	9,700,000	11,100,000					41,300,000	3,000,000		6,013,700,000	5,778,500,000	5,791,200,000	5,498,200,000	5,498,219,000	5,330,500,000	5,330,448,000	4,732,100,000	5,072,800,000	3,761,300,000	9,518,300,000	5,346,200,000	5,317,296,000	5,422,563	5,422,600,000	10,446,900,000	5,253,900,000	4,476,600,000	29,844,300,000	26,461,365,000	30,262,500,000	15,134,900,000
trade notes and accounts receivable	15,414,300,000	21,294,700,000	21,888,900,000	12,651,500,000	12,343,797,000	18,064,700,000	14,486,184,000	15,378,900,000	18,606,800,000		24,727,100,000	14,784,600,000	20,364,200,000	24,906,400,000	24,906,452,000	21,702,100,000	21,702,128,000	18,901,700,000	15,238,800,000	16,241,100,000	12,995,600,000	14,720,600,000	18,982,277,000	19,243,712	19,243,700,000	17,701,100,000	12,550,200,000	9,134,100,000	12,635,800,000	17,294,674,000	9,053,800,000	13,597,600,000
other accounts and notes receivable	15,443,000,000	14,126,800,000	13,484,900,000	12,694,700,000		12,658,400,000		5,531,000,000	4,813,500,000		4,944,000,000	4,057,400,000	4,832,500,000	5,981,900,000	5,884,907,000	4,296,100,000	4,296,068,000	2,345,500,000	2,018,100,000	2,353,400,000	3,983,100,000	3,152,100,000	2,475,533,000	2,458,802	2,458,800,000	4,180,200,000	4,003,800,000	3,796,800,000	1,930,000,000	2,590,330,000	625,900,000	1,488,300,000
due from related parties	684,000,000	996,400,000	899,800,000	787,000,000	786,952,000	745,400,000	814,427,000	833,300,000	1,478,500,000		860,200,000	908,500,000	610,200,000	905,600,000	905,572,000	98,400,000	98,388,000
transmission rights and programming	7,358,800,000	7,831,300,000	7,551,900,000	6,396,200,000	6,396,214,000	6,667,000,000	6,479,258,000	6,650,200,000	7,398,700,000		5,890,900,000	6,893,300,000	6,469,700,000	6,533,200,000	6,533,173,000	5,389,100,000	5,389,133,000	5,928,200,000	6,214,900,000	6,481,700,000	5,181,400,000	4,849,100,000	4,462,348,000	4,178,945	4,178,900,000	4,004,400,000	3,972,600,000	4,064,700,000	3,154,900,000	3,154,681,000	3,187,800,000	3,053,200,000
inventories	2,272,000,000	2,458,000,000	2,259,500,000	1,641,300,000	1,641,300,000	1,780,000,000	1,151,421,000	1,045,300,000	1,132,100,000		1,493,000,000	1,577,300,000	1,881,000,000	1,899,100,000	1,899,078,000	1,628,300,000	1,628,276,000	3,122,300,000	2,021,600,000	1,741,900,000	1,698,100,000	1,569,800,000	1,508,581,000	1,383,822	1,383,800,000	1,254,500,000	1,786,100,000	1,441,200,000	868,000,000	833,996,000	699,300,000	772,900,000
contract costs	1,570,900,000	1,592,200,000	1,599,500,000	1,598,400,000	1,598,447,000	1,427,100,000	1,379,400,000
assets held for sale	503,400,000						2,369,665,000
other current assets	4,489,100,000	4,836,800,000	5,589,100,000	4,580,800,000	4,580,793,000	5,427,500,000	3,298,061,000	4,513,000,000	4,888,800,000		2,865,900,000	3,556,600,000	3,376,600,000	2,698,200,000	2,588,014,000	2,096,500,000	2,096,509,000	2,393,300,000	2,699,400,000	2,600,600,000	2,284,400,000	2,161,500,000	1,389,129,000	1,146,189	1,146,200,000	1,117,800,000	1,479,300,000	1,486,000,000	896,200,000	653,260,000	1,086,600,000	771,100,000
total current assets	69,450,000,000	79,527,200,000	82,146,900,000	69,518,900,000	69,061,075,000	91,737,100,000	68,124,902,000	76,492,700,000	83,639,600,000		87,044,700,000	76,285,700,000	86,863,700,000	95,968,700,000	95,761,498,000	89,938,100,000	89,938,076,000	73,538,800,000	66,673,800,000	52,736,400,000	55,022,700,000	51,416,100,000	54,637,754,000	50,659,758	50,659,700,000	59,843,700,000	62,634,000,000	53,239,200,000		52,026,860,000	45,704,400,000	47,462,400,000
non-current assets:
investments in financial instruments	7,721,600,000	5,342,100,000	5,703,300,000	7,002,700,000	7,002,712,000	26,758,900,000	44,265,899,000	48,536,900,000	49,444,400,000		43,996,900,000	41,812,900,000	41,036,900,000	42,868,600,000	45,136,751,000	41,081,400,000	41,081,474,000	35,095,300,000	38,912,600,000	38,172,000,000	21,782,100,000	20,395,100,000	20,867,624,000
investments in associates and joint ventures	25,374,800,000	23,736,500,000	23,455,800,000	22,784,800,000	22,813,531,000	6,076,000,000	9,068,462,000	10,605,900,000	10,908,600,000		14,110,700,000	12,261,500,000	11,636,100,000	12,092,300,000	12,092,254,000	9,271,900,000	9,271,901,000
property, plant and equipment	87,078,800,000	84,863,400,000	84,100,500,000	83,284,300,000	83,281,627,000	83,540,900,000	83,329,232,000	84,265,800,000	83,738,400,000		85,719,800,000	84,869,900,000	86,771,500,000	86,783,600,000	86,783,572,000	76,089,300,000	76,089,277,000	65,487,400,000	53,609,700,000	53,253,700,000	48,430,700,000	48,234,900,000	48,363,191,000	41,498,967	41,499,000,000					25,171,331,000
right-of-use assets	7,122,600,000	6,911,500,000	6,912,500,000	7,212,200,000	7,212,165,000	7,227,700,000	7,553,052,000
intangible assets	42,667,900,000	42,604,700,000	42,676,200,000	42,721,500,000		42,849,100,000		35,013,800,000	35,374,500,000		35,886,500,000	36,292,100,000	37,209,100,000	37,624,500,000	37,734,771,000	38,106,300,000	38,106,325,000	37,188,700,000	11,238,500,000	11,265,700,000	11,294,700,000	11,205,700,000	11,126,791,000	11,861,380
deferred income tax assets	31,410,300,000	29,802,500,000	30,192,900,000	28,309,500,000	27,999,693,000	30,776,200,000	24,185,148,000	20,766,800,000	20,796,200,000		21,355,000,000	22,753,000,000	21,964,600,000	22,729,600,000	22,729,580,000	17,665,100,000	17,665,086,000	16,790,600,000
other assets	447,000,000	187,500,000	183,000,000	225,400,000	225,405,000	200,900,000	271,847,000	3,124,700,000	2,954,500,000		199,200,000	183,700,000	148,200,000	192,600,000	192,658,000	182,500,000	182,466,000	149,200,000	110,000,000	101,200,000	88,600,000	97,100,000	102,603,000	91,018	91,000,000	79,600,000	71,600,000	64,400,000	40,800,000	38,286,000	25,900,000	24,400,000
total non-current assets	216,151,600,000	206,104,400,000	206,840,300,000	202,466,300,000	202,185,257,000	209,588,500,000	222,218,898,000	211,472,800,000	212,366,800,000		210,175,400,000	206,953,900,000	208,664,300,000	210,914,300,000	213,292,652,000	191,535,600,000	191,535,678,000	169,351,900,000	141,535,500,000	140,953,800,000	115,008,100,000	112,865,200,000	110,428,423,000
total assets													295,528,000,000
liabilities
current liabilities:
current portion of long-term debt										307,000,000
interest payable	1,909,900,000	1,966,200,000	1,906,400,000	1,934,700,000	1,934,656,000	2,071,000,000													894,700,000	949,400,000			741,819,000
current portion of lease liabilities	1,341,500,000	1,301,000,000	1,255,100,000	1,277,700,000	1,277,754,000	1,328,500,000	1,257,766,000
derivative financial instruments	432,800,000	1,247,700,000	1,205,000,000	2,017,000,000		114,800,000	1,715,000	72,900,000	725,200,000		1,515,000,000	70,900,000	487,400,000	647,800,000	647,770,000	1,400,000		2,800,000	1,100,000	1,100,000	11,900,000	900,000	2,373,000	99,737	99,700,000	189,400,000	923,900,000	1,933,200,000
trade accounts payable and accrued expenses	23,038,500,000	25,927,000,000	26,806,200,000	21,890,200,000	21,943,227,000	26,621,300,000	20,909,655,000	19,687,000,000	20,640,400,000		19,959,800,000	19,025,000,000	25,241,400,000	22,878,100,000	22,878,015,000	17,361,500,000	17,361,484,000	20,517,900,000
customer deposits and advances	12,723,200,000	15,980,000,000	17,604,100,000	6,230,100,000	5,935,858,000	10,630,200,000	5,779,758,000	10,546,600,000	14,095,200,000		18,798,300,000	10,412,100,000	18,050,100,000	21,709,400,000	21,709,431,000	20,470,400,000	20,470,380,000	19,739,400,000	15,477,400,000	19,537,200,000	14,360,000,000	18,948,800,000	21,215,862,000	20,926,324	20,926,300,000	18,587,900,000	13,091,900,000		15,579,600,000	17,145,053,000		16,168,000,000
income taxes payable	1,488,400,000	1,634,000,000	1,558,200,000	2,058,100,000	2,013,648,000	1,620,500,000	2,470,249,000	3,073,300,000	2,886,000,000		2,524,400,000	2,440,400,000	2,600,000,000	2,012,500,000	2,012,536,000	1,632,800,000	1,632,795,000	1,555,800,000	6,368,200,000	794,900,000	205,900,000	339,400,000	512,593,000
other taxes payable	4,111,700,000	4,675,400,000	4,819,200,000	4,463,300,000	4,463,336,000	4,480,400,000	3,448,005,000	1,141,900,000	1,106,200,000		1,172,500,000	1,156,500,000	1,316,800,000	1,479,100,000	1,479,071,000	1,246,000,000	1,246,041,000	984,500,000		688,700,000			843,225,000
employee benefits	1,450,800,000	1,534,300,000	1,374,400,000	1,262,600,000	1,262,627,000	1,147,300,000	911,935,000	847,900,000	858,800,000		963,400,000	1,058,800,000	693,800,000	1,078,700,000	1,078,729,000	1,034,500,000	1,034,446,000	587,200,000	963,600,000	793,400,000	574,300,000	385,800,000	301,800,000	252,492	252,500,000	199,600,000	408,000,000
due to related parties	67,800,000	75,800,000	97,900,000	83,000,000	83,007,000	421,100,000	644,251,000	757,100,000	1,046,300,000		991,500,000	1,329,700,000	1,031,400,000	1,088,200,000	1,088,226,000	443,000,000	443,035,000
other current liabilities	2,947,600,000	2,830,600,000	2,634,200,000	2,204,900,000	2,161,610,000	3,262,400,000	2,202,767,000	2,648,400,000	2,512,000,000		2,491,800,000	2,751,000,000	2,510,200,000	2,723,900,000	2,723,880,000	2,112,800,000	2,112,843,000	1,907,300,000
total current liabilities	51,557,800,000	58,653,100,000	59,877,700,000	44,038,600,000	43,709,666,000	66,713,300,000	42,385,850,000	43,443,600,000	47,379,300,000		50,764,800,000	51,819,200,000	56,479,900,000	57,426,000,000	57,426,063,000	48,978,000,000	48,978,050,000	48,182,700,000	36,798,600,000	38,900,100,000	30,167,200,000	34,434,300,000	36,245,637,000	36,002,112	36,002,100,000	33,309,000,000	28,336,900,000			25,482,346,000		23,241,600,000
non-current liabilities:
long-term debt	123,389,100,000	120,720,000,000	124,218,200,000	121,936,000,000	121,935,980,000	131,907,600,000	120,444,744,000	117,354,000,000	122,087,400,000	116,643,100,000	121,993,100,000	106,130,300,000	117,465,500,000	126,146,700,000	126,146,663,000	107,430,800,000	107,430,764,000	82,325,100,000	73,428,900,000	59,636,900,000	59,627,400,000	51,546,100,000	52,616,419,000	55,657,000	55,657,000,000	46,495,700,000	41,460,200,000		24,102,200,000	24,433,387,000
lease liabilities, net of current portion	7,867,000,000	7,602,200,000	7,769,100,000	8,014,600,000	8,014,597,000	8,511,500,000	8,105,754,000
deferred income tax liabilities	3,006,000,000	1,631,500,000	1,817,300,000	1,824,600,000	1,786,311,000	2,630,100,000	7,052,233,000	8,090,600,000	8,836,000,000		9,037,500,000	9,352,000,000	9,046,600,000	9,668,700,000	10,349,135,000	10,000,000,000	10,000,048,000	8,178,900,000
post-employment benefits	2,199,300,000	2,167,200,000	2,120,700,000	2,080,700,000	2,080,651,000	1,586,900,000	1,468,112,000	808,400,000	783,700,000		716,100,000	455,100,000	449,900,000	520,500,000	520,473,000	407,200,000	407,179,000	315,000,000	134,800,000	105,100,000	195,900,000	171,200,000	38,852,000
other long-term liabilities	3,890,000,000	3,933,400,000	3,571,100,000	3,553,700,000	3,553,708,000	3,450,700,000	3,376,640,000	3,861,200,000	4,204,600,000		2,773,500,000	2,640,100,000	2,143,300,000	2,468,100,000	2,468,100,000	2,764,100,000	2,764,108,000	2,335,500,000	2,610,400,000	3,103,400,000	2,717,100,000	2,666,500,000	1,977,886,000	3,047,487	2,748,400,000	2,747,500,000	2,572,700,000		2,698,800,000	2,849,369,000		480,000,000
total non-current liabilities	140,637,200,000	136,508,700,000	140,411,400,000	139,636,000,000	139,597,633,000	150,166,000,000	142,553,717,000	138,956,000,000	145,162,900,000		146,798,300,000	130,689,000,000	141,386,200,000	154,663,300,000	155,343,687,000	132,974,000,000	132,973,927,000	105,024,900,000	88,133,500,000	74,841,600,000	68,216,100,000	59,874,700,000	60,285,937,000
total liabilities	192,195,000,000	195,161,800,000	200,289,100,000	183,674,600,000	183,307,299,000	216,879,300,000	184,939,567,000	182,399,600,000	192,542,200,000		197,563,100,000	182,508,200,000	197,866,100,000	212,089,300,000	212,769,750,000	181,952,000,000	181,951,977,000	153,207,600,000	124,932,100,000	113,741,700,000	98,383,300,000	94,309,000,000	96,531,574,000	96,204,915	95,905,800,000	84,612,800,000	76,108,200,000			58,053,176,000		46,811,200,000
equity
capital stock	4,836,700,000	4,836,700,000	4,907,800,000	4,907,800,000	4,907,765,000	4,907,800,000	4,907,765,000	4,907,800,000	4,907,800,000		4,978,100,000	4,978,100,000	4,978,100,000	4,978,100,000	4,978,126,000	4,978,100,000	4,978,126,000	4,978,100,000	4,978,100,000	4,978,100,000	4,978,100,000	4,978,100,000	4,978,126,000
additional paid-in-capital	15,889,800,000	15,889,800,000	15,889,800,000	15,889,800,000	15,889,819,000	15,889,800,000	15,889,819,000	15,889,800,000	15,889,800,000		15,889,800,000	15,889,800,000	15,889,800,000	15,889,800,000	15,889,819,000	15,889,800,000	15,889,819,000	15,889,800,000	15,889,800,000	15,889,800,000			15,889,819,000
retained earnings:
legal reserve	2,139,000,000	2,139,000,000	2,139,000,000	2,139,000,000		2,139,000,000		2,139,000,000	2,139,000,000		2,139,000,000	2,139,000,000	2,139,000,000	2,139,000,000		2,139,000,000		2,139,000,000	2,139,000,000	2,139,000,000	2,139,000,000	2,139,000,000		2,139,007	2,139,000,000	2,135,400,000	2,135,400,000		2,135,400,000	2,135,423,000		1,871,300,000
unappropriated earnings	80,334,100,000	80,344,700,000	82,394,400,000	83,391,700,000		80,731,400,000		70,395,600,000	70,080,900,000		68,320,200,000	68,019,200,000	68,453,600,000	64,653,500,000		60,101,500,000		60,852,800,000	54,624,800,000	54,918,500,000	47,494,400,000	48,881,300,000		28,596,239	28,596,200,000	23,583,400,000	23,139,000,000		23,685,500,000	21,713,378,000		12,313,800,000
net income for the period	2,357,900,000	1,597,300,000		-892,300,000		-4,562,700,000		5,952,900,000	4,974,900,000		4,524,500,000	3,961,600,000	1,350,400,000	3,721,400,000				1,453,400,000	3,065,500,000	853,900,000	2,895,200,000	1,069,700,000		6,889,641	6,889,600,000
accumulated other comprehensive loss	-12,597,800,000	-14,562,100,000	-14,700,700,000																											-3,009,468,000		-3,690,100,000
shares repurchased	-14,567,300,000	-14,791,600,000	-16,129,600,000	-16,079,100,000	-16,079,124,000	-13,807,100,000	-14,018,847,000	-12,955,800,000	-12,961,800,000		-14,788,900,000	-11,839,700,000	-11,273,300,000	-11,551,700,000		-11,882,200,000		-12,513,100,000	-12,334,000,000	-12,848,400,000	-12,610,000,000	-13,029,700,000	-13,103,223,000		-15,971,700,000	-6,156,600,000	-5,374,300,000		-8,198,000,000	-7,939,066,000		-7,330,700,000
equity attributable to stockholders of the company	78,392,400,000	75,453,800,000	73,916,300,000	73,800,500,000	73,442,009,000	69,912,200,000	90,530,466,000	90,814,000,000	89,096,500,000		85,661,800,000	87,325,800,000	84,724,800,000	82,204,200,000	83,791,916,000	87,382,900,000	87,382,935,000	78,302,600,000	72,277,600,000	69,394,300,000	63,044,600,000	61,635,200,000	60,644,005,000
non-controlling interests	15,014,200,000	15,016,000,000	14,781,800,000	14,510,100,000	14,497,024,000	14,534,100,000	14,873,767,000	14,751,900,000	14,367,700,000		13,995,200,000	13,405,600,000	12,937,100,000	12,589,500,000	12,492,484,000	12,138,800,000	12,138,842,000	11,380,500,000	10,999,600,000	10,554,200,000	8,602,900,000	8,337,100,000	7,890,598,000
total equity	93,406,600,000	90,469,800,000	88,698,100,000	88,310,600,000	87,939,033,000	84,446,300,000	105,404,233,000	105,565,900,000	103,464,200,000		99,657,000,000	100,731,400,000	97,661,900,000	94,793,700,000	96,284,400,000	99,521,700,000	99,521,777,000	89,683,100,000	83,277,200,000	79,948,500,000	71,647,500,000	69,972,300,000	68,534,603,000	58,856,485
total liabilities and equity
net loss for the period			-584,400,000
current portion of other notes payable							1,324,063,000	1,279,500,000	1,270,600,000	1,261,700,000	1,178,400,000	1,170,100,000	1,153,300,000	1,202,300,000	1,202,344,000
liabilities related to assets held for sale							432,812,000
accumulated other comprehensive income				-15,556,400,000	-15,556,848,000	-15,386,000,000	1,320,451,000	4,484,700,000	4,065,900,000		4,599,100,000	4,177,800,000	3,187,200,000	2,374,100,000	3,961,784,000	5,257,600,000	5,257,554,000	5,502,600,000	3,914,400,000	3,463,400,000	2,258,100,000	1,707,000,000	1,805,884,000	3,174,521	3,174,600,000	3,251,100,000	3,110,500,000		2,933,600,000
other accounts, taxes and notes receivable					12,655,479,000		10,692,774,000
intangible assets and goodwill					42,724,218,000		43,328,954,000
retained earnings					84,280,397,000		82,431,278,000								70,395,669,000		73,139,684,000						51,073,399,000
current portion of long-term debt and interest payable
other notes payable, net of current portion								1,279,500,000	1,270,600,000	1,261,700,000	2,505,600,000	2,487,800,000	2,452,200,000	3,650,700,000	3,650,681,000
current portion of finance lease obligations								683,500,000	627,300,000	566,600,000	580,900,000	543,400,000	540,700,000	575,600,000	575,576,000	511,600,000	511,556,000	514,400,000	318,300,000	328,500,000	448,000,000	447,100,000	439,257,000
finance lease obligations, net of current portion								4,523,400,000	4,953,200,000		5,041,900,000	4,810,800,000	5,241,100,000	5,816,200,000	5,816,250,000	5,293,600,000	5,293,559,000	4,891,100,000	4,369,100,000	4,437,200,000	4,598,500,000	4,311,100,000	4,531,893,000
total debt 1										116,950,100,000
long-term finance lease obligations										4,610,500,000
total finance lease obligations										5,177,100,000
total other notes payable 2										2,523,400,000
account receivable related to former investment in gsf
net income for the year																10,899,100,000														8,082,463,000		6,373,800,000
account receivable related to investment in gsf
due from affiliated companies																		2,226,000,000	1,444,500,000	1,139,200,000	789,100,000	1,109,000,000	1,436,892,000	450,064	450,100,000	196,300,000	478,100,000	106,000,000	102,900,000	195,023,000	192,000,000	146,700,000
investments in joint ventures and associates																		4,804,600,000	18,180,700,000	18,064,800,000	22,753,700,000	22,099,200,000
short-term debt and current portion of long-term debt
due to affiliated companies																		2,400,000	80,800,000	27,000,000	104,200,000	72,800,000	27,463,000		43,100,000	48,800,000	78,300,000		123,800,000	127,191,000		474,400,000
deferred income taxes																			10,639,500,000	10,859,200,000	2,425,200,000	2,535,500,000	1,073,888,000	410,893	111,800,000	681,800,000	1,510,900,000
trade payables																			13,410,700,000	11,906,100,000
taxes payable																			1,278,800,000					1,388,242	1,388,200,000	1,443,900,000	783,400,000		524,300,000	684,497,000		1,098,500,000
other accrued liabilities																			3,838,900,000	3,545,500,000	3,430,600,000	3,305,200,000	3,193,304,000	3,359,911	3,359,900,000	3,056,600,000	3,250,000,000		2,515,200,000	2,173,926,000		1,645,000,000
accounts receivable																					486,300,000	331,800,000	334,775,000
trade accounts payable																					9,038,700,000	8,954,000,000	8,594,138,000	7,687,518	7,687,500,000	7,472,300,000	8,823,900,000		5,283,200,000	4,457,519,000		3,074,500,000
other tax payable																					775,100,000	784,200,000
accrued interest																					803,800,000	774,400,000		792,645	792,700,000	750,700,000	717,300,000		212,100,000	307,814,000		348,200,000
additional paid-in capital																					15,889,800,000	15,889,800,000		16,593,239	16,593,200,000	4,547,900,000	4,547,900,000		4,547,900,000	4,547,944,000		4,383,200,000
investments in jointly controlled entities and associates																							22,111,315,000
plan assets in excess of post-employment benefits
non-current accounts receivable																								253,795	253,800,000
investments																								43,407,790	43,407,800,000	21,477,800,000	6,275,200,000	6,058,900,000	8,424,400,000	8,115,584,000	5,732,500,000	5,710,600,000
plan assets in excess of employee benefit obligations
liabilities and equity
current portion of capital lease obligations																								381,891	381,900,000	280,100,000	284,100,000
due affiliated companies																								43,089
capital lease obligations																								201,844
retirement and termination benefits																								525,868	525,900,000	430,100,000	418,500,000
capital stock issued, no par value																								10,238,885	10,238,900,000	10,019,900,000	10,019,900,000		10,267,600,000	10,267,570,000		10,290,300,000
share repurchased																								-15,971,710
total controlling interest																								51,659,822	51,659,800,000	45,064,500,000	40,442,100,000
non-controlling interest																								7,196,663	7,196,700,000
current:
intangible assets and deferred charges																									11,861,400,000	10,600,600,000	10,875,400,000	11,413,200,000	8,094,500,000	8,098,667,000	5,394,500,000	5,390,100,000
capital lease obligations, net of current portion																									201,800,000	349,700,000	499,100,000
stockholders’ equity
total stockholders’ equity																									58,856,500,000	51,857,800,000	46,853,300,000			40,650,300,000
total liabilities and stockholders’ equity
property, plant, and equipment																										38,651,900,000	36,600,400,000	31,236,900,000	24,999,400,000		21,057,700,000	20,976,000,000
controlling interest net income for the year																										7,683,400,000	2,863,700,000
noncontrolling interest																										6,793,300,000	6,411,200,000
current portion of satellite transponder lease obligation																													98,000,000	97,696,000
satellite transponder lease obligation, net of current portion																													983,400,000	1,035,134,000
customer deposits and advances, non current
controlling interest net income for the period
cash
grupo televisa, s.a.b.
condensed consolidated balance sheets
as of march 31, 2008, and december 31, 2007
customer deposits and advances, noncurrent																													2,659,800,000			2,609,900,000
deferred taxes																													602,600,000	1,272,834,000		172,400,000
pension plans, seniority premiums and severance indemnities																													271,400,000	314,921,000
reserve for repurchase of shares																													1,240,900,000	1,240,869,000		5,977,400,000
majority interest net income for the period																													1,053,500,000
minority interest																													3,694,100,000	3,611,187,000		885,400,000
available-for-sale investment
commitments and contingencies
total majority interest																														37,039,113,000		30,189,000,000
available:
transmission rights and programming, noncurrent																															3,462,400,000	3,428,900,000
pension plans, seniority premiums, and severance indemnities
stockholders' equity
total stockholders' equity																																31,074,400,000
total liabilities and stockholders' equity
available-for-sale investment in shares of univision																																11,821,900,000
current portion of satellite transponder
lease obligation																																78,700,000
long-term debt2																																18,872,400,000
satellite transponder lease obligation 2																																1,235,000,000
labor obligations 3																																199,900,000

Cashflow Statements:

Quarterly

Annual

Unit: USD

Grupo Televisa, S.A.B(NYSE:TV)

Grupo Televisa, S.A.B
(NYSE:TV)