October 27, 2016 / 10:07 PM / 2 years ago

UPDATE 1-Mexico's Televisa profit falls more than 80 pct in 3rd qtr

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MEXICO CITY, Oct 27 (Reuters) - Mexico’s Grupo Televisa on Thursday reported a more than 80 percent fall in third-quarter net profit, due to higher costs in its content division and an extraordinary gain in the year earlier period.

The company said profit in the July to September period was 1.1 billion pesos ($55 million), compared with 6.6 billion pesos in the same quarter last year.

In the third quarter of 2015, the company swapped some convertible instruments owned by Univision Holdings for warrants, resulting in an extraordinary financial gain.

Operating profit in its content division, the largest by revenue which includes the sale of advertising, channels and program licenses, fell 9.4 percent.

Net sales rose 6.6 percent to 23.7 billion pesos due to double-digit sales growth in both its satellite and cable pay television units. (Reporting by Christine Murray; Editing by Lisa Shumaker)

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