Grupo Televisa's Market Power Ruling Repealed by IFT

TL;DR

IFT just took away Televisa's 'substantial power' designation for TV/audio services. Big regulatory win.

AI Summary

On June 21, 2024, Grupo Televisa, S.A.B. announced that the IFT (Federal Institute of Telecommunications) has repealed its prior determination of substantial power in the market of restricted television and audio services. This decision impacts Televisa's regulatory standing in Mexico.

Why It Matters

This repeal could significantly alter Televisa's regulatory obligations and competitive landscape within Mexico's media sector.

Risk Assessment

Risk Level: medium — The repeal of a substantial power determination can lead to significant changes in regulatory oversight and market competition, introducing uncertainty.

Key Players & Entities

• Grupo Televisa, S.A.B. (company) — Registrant and subject of the IFT ruling
• IFT (Federal Institute of Telecommunications) (company) — Regulatory body that repealed the determination
• June 21, 2024 (date) — Date of the press release and IFT's decision

FAQ

Filing Documents

• ff3544070_6k-grupo.htm (6-K) — 20KB
• image0.jpg (GRAPHIC) — 8KB
• 0000895345-24-000236.txt ( ) — 33KB

From the Filing

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN ISSUER PURSUANT TO RULES 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of June, 2024 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 Form 20-F or Form 40-F.) Form 20-F Form 40-F Investor Relations PRESS RELEASE IFT repeals Grupo Televisa's Determination of Substantial Power in the Market of Restricted Television and Audio Services Mexico City, June 21, 2024 – Grupo Televisa, S.A.B. ("Televisa" or the "Company"; NYSE:TV; BMV:TLEVISA CPO) announced today it has been notified by the Mexican Institute of Telecommunications ( Instituto Federal de Telecomunicaciones , or "IFT") of the resolution through which such authority determined to repeal the determination that declared the Company, its concessionaires of restricted television and audio services ("STAR" for its acronym in Spanish) and other entities as Economic Agent with Substantial Power in 35 relevant markets of the STAR in Aguascalientes, Chihuahua, Mexico City, Estado de Mxico, Jalisco, Nuevo Len and San Luis Potos. This, in compliance with the guidelines issued by a federal court. With this resolution, a procedure initiated by the IFT to impose asymmetric measures to the Company and its subsidiaries has also been repealed, and the measures provided in the current regulations for these purposes are no longer applicable. About Televisa Grupo Televisa S.A.B. ("Televisa") is a major telecommunications corporation which owns and operates one of the most significant cable companies as well as a leading direct-to-home satellite pay television system in Mexico. Televisa's cable business offers integrated services, including video, high-speed data and voice to residential and commercial customers as well as managed services to domestic and international carriers. Televisa owns Sky, a leading direct-to-home satellite pay television system and broadband provider in Mexico. 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 and DTH systems. 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 US 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 Andrs Audiffred, Investor Relations Director / aaudiffreda@televisa.com.mx Media Relations Rubn Acosta / Tel: (52 55) 5224 6420 / racostamo@televisa.com.mx Alejandra Garcia / Tel: (52 55) 4438 1205 / agarcial@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. GRUPO TELEVISA, S.A.B. (Registrant) Date: June 24, 2024 By: /s/ Luis Alejandro Bustos Olivares Name: Luis Alejandro Bustos Olivares Title: Legal Vice President and General Counsel

View Full Filing

View this 6-K filing on SEC EDGAR