Grupo Televisa, S.A.NYSE
Grupo Televisa: A Good Time To Look South For Opportunity
Mon, Nov. 21, 12:26 PM
- 52-week highs on 3x or more normal volume:
- Banco Santander Brasil (BSBR +5.8%) - now up 120% YTD
- Energy Transfer Equity (ETE +3.4%) - Energy Transfer Partners being acquired
- Arista Networks (ANET +6.1%)
- Hillenbrand (HI +1.3%)
- International Game Technology (IGT -4.3%) - strong results, but now reversing
- Lexmark International (LXK +0.5%)
- 52-week lows on just modestly higher than normal volume:
- CubeSmart (CUBE -0.9%)
- Extra Space Storage (EXR -0.9%)
- PLDT (PHI -1.9%)
- 58.com (WUBA -1%)
- Infosys (INFY)
- Novo Nordisk (NVO -0.5%)
- Grupo Televisa (TV -0.4%)
Fri, Nov. 18, 12:34 PM
- In no surprise given the market's one-way street upwards for some time, the list of 52-week highs in large- and mid-cap stocks is too long to list. Suffice it to say, if you own a financial name and it's not at a 52-week high, call management.
- Of far more interest given the major bull run, which names are making 52-week lows?
- Anheuser-Busch (BUD -1.6%)
- Fomento Economico Mexicano (FMX -2.8%)
- National Grid (NGG -0.8%)
- Novo Nordisk (NVO -1%)
- Grupo Televisa (TV -3.3%)
- Unilever (UL -1%)
- CubeSmart (CUBE -1.4%)
- Extra Space Storage (EXR -0.4%)
Fri, Oct. 28, 10:51 AM
- Grupo Televisa (NYSE:TV) is trading 4.1% lower today after Q3 earnings showed profits that fell 80% (though off a tough comparison).
- Net sales increased 6.6% to 23.7B pesos, thanks to strong growth in the Sky and Cable segments, while operating segment income rose 4.1% (to 9.98B pesos).
- Net income fell to 1.06B pesos from 6.55B pesos, in large part due to a 7.98B-peso negative variance tied to the absence of finance income from a July 2015 exchange of Univision convertible debentures for warrants.
- Revenue by segment: Content, 8.78B pesos (up 0.6%); Sky, 5.51B pesos (up 12.5%); Cable, 8.16B pesos (up 11.8%); other businesses, 2.23B pesos (up 10.8%).
- Results at Content -- operating income fell 9.4% and margin dropped 460 basis points to 42% -- were dinged by higher costs related to producing new shows and formats.
- On a conference call today, the company said that with a depreciating peso it would cut capital expenditures this year. It plans to slow down network upgrades.
- Press Release
Thu, Oct. 27, 11:13 PM
Mon, Oct. 17, 1:34 PM
- Univision (Pending:UVN) has made a couple of key hires in its entertainment division, naming Lourdes Diaz as president of Entertainment and Adrian Santucho executive VP at Univision Studios.
- Diaz, joining from Comedy Central International, will have responsibility for overseeing strategic acquisitions -- Univision has been active on that front particularly in digital, investing in The Onion, Fusion and recently Gawker -- as well as new content development.
- Santucho, formerly CEO of FremantleMedia Latino America, will work with Grupo Televisa (NYSE:TV) on production initiatives and oversee all Univision Studios productions.
Wed, Oct. 5, 3:39 PM
- Grupo Televisa (TV +1%) has a deal with NBCUniversal (CMCSA +0.1%) and its Telemundo unit to distribute content, expanding its selection of films and series.
- The multi-year deal also boosts streaming video service "blim," which competes with international rivals like Netflix.
- The NBCUniversal International Distribution portion of the deal expands Televisa's pact for free-to-air programs along with library content for blim. The Telemundo Internacional portion will just go to blim.
Thu, Sep. 29, 5:14 PM
- Mexico's Megacable (OTCPK:MHSDF) says it won't carry six (more) Grupo Televisa (TV -2.2%) channels, after Televisa canceled the deal between the two.
- That follows a move in early September by Megacable to drop 14 networks programmed by Televisa. To fill that space, Turner's (NYSE:TWX) Mexico operation stepped up to provide CNN en Español for Megacable's basic package.
- Televisa's top networks, Las Estrellas and Canal 5, had continued to air after that move, as well as Gala TV and Foro TV regionally.
Mon, Sep. 12, 4:50 PM
- Lions Gate Entertainment (LGF +1.8%) and Univision (Pending:UVN) are looking to tap into a massive U.S. base of Hispanic consumers, teaming to launch a Spanish-language premium on-demand movie service.
- The two will launch the streaming service early next year and tap a deep library of content, from current Spanish-language film hits to the 16,000 films in the Lionsgate library dubbed into Spanish.
- Pantelion Films, the joint venture between Lions Gate and Televisa (TV +0.2%), has rights to more than 70% of the top-grossing films from Mexico over the past five years, including No Manches Frida, which debuted last week as the No. 12 film at the box office despite bowing in only 362 theaters (a leading per-screen average of $10,155).
- Univision will offer the service to cable and satellite operators individually as well as along with Univision NOW, the subscription service for Univision and UniMas broadcast networks.
- Lions Gate is no stranger to video on demand -- it already operates smaller services Tribeca Shortlist and Comic-Con HQ, and it's running Kevin Hart's Laugh Out Loud comedy platform starting early next year as well.
- After hours: LGF -2.1%.
Fri, Sep. 9, 3:29 PM
- Falling ratings are creating a test for the partnership of Univision and Grupo Televisa (TV -4.5%), The Wall Street Journal notes, as the TV provider and programmer aren't immune to what look like generational shifts in television consumption.
- Strains have appeared along with a ratings drop at the flagship Univision network. And Univision Executive Chairman Haim Saban and other directors have even proposed canceling the deal between the two or cutting the payments (more than $300M/year) in half, amid what they see as a weak response to calls for changing to more American-centric programming, away from a steady diet of telenovelas.
- Televisa supplies most of Univision's programming, and owns 10% of the company as well. The two have been partners for 24 years and last year extended their agreement to 2030.
Wed, Mar. 30, 6:35 PM
- JPMorgan has downgraded Grupo Televisa (NYSE:TV) amid rising costs, but notes it still faces a better regulatory environment than rival America Movil (NYSE:AMX).
- The firm lowered its rating on TV to Neutral from Overweight, and trimmed its price target from $31 to $30, just 6.8% above today's close of $28.09.
- Despite improvements in ad revenues, the company's content EBITDA is expected to drop 6%, JPMorgan says, with incremental costs from streaming service Blim. Analyst Andre Baggio expects a drag of five percentage points to segment margins from content spending.
- But ad revenues should stabilize after dropping 10% last year, and: "We expect cable to continue to gain share from AMX in broadband, due to superior offers at competitive prices. Also, DTH and cable should benefit from the analog switch-off, which is boosting demand."
Fri, Feb. 26, 1:38 PM
- After posting a quarter where profits slipped 37%, Grupo Televisa (NYSE:TV) held an earnings call this morning where its executive VP said capital spending should be maintained in the coming year.
- ADRs are down 0.5% today in the wake of yesterday's earnings.
- The company spent $1.6B in 2015 with the bulk of that going to telecoms -- its fastest-growing division, with operating income up more than 20%.
- "For 2016 we estimate that capex will be similar to that of 2015, both in terms of magnitude and of composition," said executive VP Alfonso Angoitia.
- The company doesn't have plans, however, to re-enter the mobile market after selling out Iusacell in 2014 (an interest that eventually went to AT&T).
- While telecom is growing quickly at Televisa, ad sales weakness pressed results for Q4.
Thu, Feb. 25, 7:15 PM
- Grupo Televisa (TV +1%) saw profits fall 37% in its fourth quarter as higher costs and ad weakness weighed on earnings a quarter after the company had returned to profitability.
- Net profit came to 1.571B pesos (about $91M) as ad sales fell 11%.
- The company's still losing viewers to alternatives to its free-to-air content, and says it's restructuring its pricing policies in adjustment. It took a hit in being forced by regulators to allow pay-TV rivals to air its free-to-air content (Televisa has more than a 70% share of satellite TV customers and a majority of cable customers) and narrowly escaped even tougher regulations in the fall.
- Meanwhile, its telecoms side (including pay TV) is the fastest-growing unit, with operating income up more than 20%.
- Previously: Acquisitions push Grupo Televisa back into profits (Oct. 22 2015)
Nov. 17, 2015, 6:14 PM
- Grupo Televisa (NYSE:TV) says it's planning to issue as much as $1.2B in bonds over the coming 90 days -- if market conditions permit.
- In its most recent report, Televisa noted total debt of $5.66B, with a debt/equity ratio of about 100 and debt/assets around 37.
- The company says it would use proceeds to fund capex for cable TV and telecom.
- Televisa ADRs are down 17% YTD, but are up 11.2% from a 52-week low of $25.44 touched on Oct. 2.
Oct. 22, 2015, 7:34 PM
- Grupo Televisa (TV +1.8%) returned to profit in the third quarter as new pay-TV acquisitions made up for a decline in ad revenues.
- The company posted earnings of 6.55B pesos (about $387M), vs. a loss last year in a quarter affected by the writedown of its (sold) interest in Iusacell.
- Revenues overall were up 12.2% to 22.26B pesos. The addition of revenue from the past year's acquisitions of Cablecom and Telecable mitigated a 9% drop in ad revenues.
- Its pay TV business just avoided being hit with more restrictions in the now more heavily regulated Mexican market. Last year Grupo Televisa's dominance in the free-to-air market means it had to allow pay-TV rivals to show its free content.
Jul. 7, 2015, 9:38 AM
- Grupo Televisa (NYSE:TV) is down 6.5% out of the open as JPMorgan Chase downgrades the stock to Neutral.
- The firm had upgraded Televisa from Neutral to Overweight on May 7, with a $42 target. Shares are trading currently at $35.84.
- Recently, Citigroup had upgrades shares to Buy as well. A consensus price target of $40.50 implies more than 10% upside at the moment.
- Previously: As Univision pursues IPO, Televisa firms its partnership (Jul. 02 2015)
Jul. 2, 2015, 1:17 PM
- Along with Univision's announcement of an IPO filing today, Grupo Televisa (TV +0.9%) -- which has a longstanding working relationship with Univision -- says the two companies have extended their program licensing agreement until at least 2030.
- The move is subject to Univision completing its IPO with no change of control. It also changes the royalty rate on Univision's Spanish-language revenue to 11.84%, from 11.91%, and increasing to 16.13% on Jan. 1, 2018, with further increases baked in.
- Univision has exclusive U.S. broadcast and digital rights to Televisa content. Televisa has about a 36% economic interest in Univision, and Univision says that Televisa will hold about 22% of voting rights to Univision common stock.
- Televisa got $313.7M in royalties from Univision in 2014.