UPDATE 2-Mexico Televisa's quarterly net profit up 70 pct on one-time payment

jueves 23 de abril de 2015 20:56 GYT
 

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MEXICO CITY, April 23 (Reuters) - Mexican broadcaster Televisa, the world's biggest provider of Spanish-language TV content, on Thursday reported a 70 percent increase in its first-quarter net profit, reflecting a one-time payment from Univision.

The company reported a net profit of 1.453 billion pesos ($95.2 million), up from 853.9 million pesos in the same quarter a year earlier.

Televisa said the rise was mainly due to a contract termination fee of $67.6 million from U.S. Spanish-language broadcaster Univision, in which Televisa owns equity and convertible debt equivalent to around a 38 percent stake.

The company reported a 17.3 percent rise in sales, to 19.859 billion pesos, mostly due to strong growth in its cable and telecommunications business. That unit, which earned 6.7 billion pesos in the first quarter, now represents 34 percent of total sales, compared with 27 percent during the same quarter last year.

At the end of the quarter, Televisa had 7.9 million revenue generating units, including video, data, and voice subscribers.

The company's satellite pay-television business Sky had 6.76 million subscribers at the end of March, and its sales rose 10 percent.

In the past week, Televisa has nominated the chief executives of Discovery Communications Inc, Liberty Global PLC and Lionsgate to be members of its board.

UBS analysts said in a note on Thursday that the new additions would bring experience useful for a potential public share offering of Univision. It could go public within the next 12 to18 months.   Continuación...