(Updates with details on main drivers of increase)
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 on a one-time payment it received 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.
The company said the rise in profit was mainly due to a one-off payment of $67.6 million dollars it received from Univision, when a contract was terminated.
The company’s satellite pay-television business Sky had 6.76 million subscribers at the end of March.
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 U.S. media company Univision, in which Televisa owns a stake. It could go public within the next 12-18 months.
The company controls more than 60 percent of free-to-air TV in Mexico, but it faces tough new measures stemming from a telecoms reform that seeks to drive competition in the sector.
In March, a unit of Mexico’s telecoms regulator IFT said it had initially found Televisa has substantial power in the country’s pay-TV market, a finding that could lead to stricter regulations.
In the two years after a sweeping telecoms reform, the only telecoms service which showed a price increase was Pay TV, according to IFT statistics released in March. Meanwhile, cell phone and fixed-line service prices have fallen.
Shares in Televisa were up 0.19 percent at 109.20 pesos per share before the company reported its results. ($1 = 15.2610 pesos-end of March) (Reporting by Joanna Zuckerman Bernstein and Christine Murray; Editing by Alan Crosby)