Grupo Televisa (TV, Financial) (2.2%) (TV – $11.70 – NYSE) is Mexico’s largest cable broadband provider and satellite distribution (through its58.7% ownership of Sky Mexico). In early 2022, Televisa merged its content production and distribution business into U.S.-based Univision in exchange for a 45% stake in the new company. With a dominant position in Spanish language content, Televisa-Univision is poised to launch a streaming service addressing 600 million Spanish speakers around the world. Meanwhile, Televisa is increasing their investment in Mexican broadband where penetration of 60% lags the U.S. We expect the continued recovery in post-COVID Mexican advertising spending as well as growth in pay-TV and broadband penetration to benefit Televisa over time.
From Mario Gabelli (Trades, Portfolio)'s Gabelli Value 25 Fund first-quarter commentary.
