Grupo Televisa acquires AT&T’s stake in Sky México and announces leadership changes

Grupo Televisa, S.A.B. (“Televisa” or the “Company”; NYSE:TV; BMV:TLEVISA CPO) has just announced that it has reached an agreement with AT&T for the acquisition of its stake in the share capital of Sky México (“Sky”), thereby making the Company the sole owner of 100% of Sky’s share capital. As part of the agreement reached, the transaction price would be paid by the Company in 2027 and 2028. The transaction is subject to customary regulatory approvals.

The Company also reported that Luis Malvido will step down as Chief Executive Officer of Sky México as of April 15, 2024, after more than two years in the role. Grupo Televisa’s Co-Chief Executives, Bernardo Gómez and Alfonso de Angoitia, stated, “On behalf of Grupo Televisa, we deeply appreciate Luis for his leadership, innovation, and valuable contributions to the Company. Luis has played a key role in the evolution and streamlining processes of our core business at Sky, and we wish him great success in his future endeavors.”

Francisco Valim will be appointed as Chief Executive Officer of Sky, while also remaining in his position as Chief Executive Officer of Grupo Televisa’s Cable segment (izzi). “As Chief Executive Officer responsible for the Cable and Sky segments, Francisco will be tasked with generating significant synergies and efficiencies for Televisa,” said Bernardo Gómez and Alfonso de Angoitia. “We are confident that this decision will help strengthen Televisa’s competitive and financial position.”

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