Televisa Closes The Sale Of Its Stake In Sistema Radiópolis

Rhea-AI Summary

Grupo Televisa has successfully completed the sale of its 50% stake in Sistema Radiópolis for MXN$1,248 million. Additionally, the company received a dividend payment of MXN$285.6 million. This divestiture is part of Televisa's strategy to streamline operations by focusing on its core content and distribution assets, thereby enhancing its overall business efficiency. The move reflects a significant shift toward optimizing resource allocation in light of evolving market demands.

Positive

• Sale of 50% stake in Sistema Radiópolis for MXN$1,248 million strengthens financial position.
• Received a dividend payment of MXN$285.6 million enhancing cash flow.
• Strategic focus on core content and distribution assets may lead to improved operational efficiency.

Negative

• None.

MEXICO CITY, July 2, 2020 /PRNewswire/ -- Grupo Televisa, S.A.B. ("Televisa" or the "Company"; NYSE:TV; BMV:TLEVISA CPO) announced today that it has concluded the sale of its 50% equity participation in Sistema Radiópolis, S.A. de C.V. ("Radiopolis"), which operates 17 radio stations in Mexico.

The total purchase price for this transaction was MXN$1,248 million. On this date, Televisa also received the payment of a dividend in the amount of MXN$285.6 million.

The sale of Televisa's equity participation in Radiopolis is part of the Company's plans to dispose select non-core operations allowing it to focus its resources on its content and distribution assets.

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. Statements contained in this release relating to the COVID-19 outbreak, the impact of which on our business performance and financial results remains inherently uncertain, are forward-looking statements.  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. 

About Televisa

Televisa is a leading media company in the Spanish-speaking world, an important cable operator in Mexico and an operator of a leading direct-to-home satellite pay television system in Mexico. Televisa distributes the content it produces through several broadcast channels in Mexico and in over 70 countries through 25 pay-tv brands, television networks, cable operators and over-the-top or "OTT" services. In the United States, Televisa's audiovisual content is distributed through Univision Communications Inc. ("Univision") the leading media company serving the Hispanic market. Univision broadcasts Televisa's audiovisual content through multiple platforms in exchange for a royalty payment. In addition, Televisa has equity and warrants which upon their exercise would represent approximately 36% on a fully-diluted, as-converted basis of the equity capital in Univision Holdings, Inc., the controlling company of Univision. Televisa's cable business offers integrated services, including video, high-speed data and voice services to residential and commercial customers as well as managed services to domestic and international carriers. Televisa owns a majority interest in Sky, a leading direct-to-home satellite pay television system and broadband provider in Mexico, operating also in the Dominican Republic and Central America. Televisa also has interests in magazine publishing and distribution, professional sports and live entertainment, feature- film production and distribution, and gaming.

Investor Relations

Carlos Madrazo / Tel: (52 55) 5261 2445 / cmadrazov@televisa.com.mx
Santiago Casado / Tel: (52 55) 5261 2438 / scasado@televisa.com.mx

Media Relations

Rubén Acosta / Tel: (52 55) 5224 6420 / racostamo@televisa.com.mx
Teresa Villa / Tel: (52 55) 4438 1205 / atvillas@televisa.com.mx

www.televisair.com

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SOURCE Grupo Televisa, S.A.B.

FAQ

What is the recent sale announced by Grupo Televisa?

Grupo Televisa announced the sale of its 50% equity interest in Sistema Radiópolis for MXN$1,248 million.

How much dividend did Televisa receive from the sale?

Televisa received a dividend payment of MXN$285.6 million in conjunction with the sale.

What does the sale of Radiopolis signify for Televisa?

The sale indicates Televisa's strategy to streamline operations and focus on core content and distribution assets.

When was the sale of Televisa's stake in Radiopolis completed?

The sale was completed on July 2, 2020.

What is the stock symbol for Grupo Televisa?

Grupo Televisa is listed under the stock symbol 'TV' on the NYSE.