Latest news with #broadcaster
Reuters
an hour ago
- Business
- Reuters
Mexican broadcaster Televisa cuts 2025 investment budget, shares rise
MEXICO CITY, July 23 (Reuters) - Mexico's largest broadcaster, Grupo Televisa, reduced 2025 capital spending on Wednesday, lowering it to $600 million from $665 million. Televisa's Co-Chief Executive Alfonso de Angoitia said on a call with analysts that negotiations with suppliers had resulted in more favorable terms for the company. "While we expect CAPEX deployment to accelerate during the second half of the year, we are cutting our CAPEX budget," Angoitia said. Following the call, shares in the world's biggest producer of Spanish-language content were up 3.3%, paring earlier gains of as much as 7.6%. Televisa's ( opens new tab stock has surged over 30% year-to-date, with Wednesday's gain alone adding 820.4 million pesos ($44.18 million) to the company's market capitalization. On Tuesday, the broadcaster reported net profit of 474.5 million pesos for the second quarter, rebounding from a 25.6-million peso loss one year ago. The quarterly profit was largely supported by lower costs, despite a fall in subscriptions, particularly for Televisa's satellite-TV unit, SKY. "Through 2025, we expect the broadcaster to maintain constant challenges in both the cable and Sky segments, but with a less adverse scenario in terms of inflation and comparable bases," analysts at brokerage Monex said. SKY had about 350,000 disconnections and a 16.3% dip in revenue during the second quarter, while the cable segment registered a revenue drop of 2.5% year-over-year. The company's revenue totaled 14.73 billion pesos, a 6% decrease from the same period last year. However, Angoitia added that revenue remained unchanged when excluding the impact of the Mexican peso's depreciation. The peso weakened 2.6% from the end of June last year to the end of June this year. ($1 = 18.5705 Mexican pesos)
Yahoo
2 hours ago
- Business
- Yahoo
Mexico's Televisa cuts 2025 investment budget, shares trim gains
MEXICO CITY (Reuters) -Mexico's largest broadcaster Grupo Televisa announced on Wednesday a reduction in its capital expenditure for 2025, lowering it to $600 million from the $665 million previously disclosed. Following a conference call on its second-quarter results, shares in the world's biggest producer of Spanish-language content rose 3.6%. The gain pared earlier increases, as the shares had climbed by as much as 7.6% earlier in the day. "While we expect CAPEX deployment to accelerate during the second half of the year, we are cutting our CAPEX budget," Televisa Co-Chief Executive Alfonso de Angoitia told the conference, explaining that successful negotiations with suppliers have resulted in more favorable terms for the company. On Tuesday the broadcaster reported a net profit of 474.5 million pesos ($25.3 million) for the second quarter, a rebound from the 25.6 million peso loss in the year-ago period. The quarterly profit was largely supported by lower costs, despite a decrease in subscriptions, particularly for its satellite TV unit, SKY. The company's revenues totaled 14.73 billion pesos, a 6% decrease from the same period last year. However, Angoitia added that revenues would have remained unchanged when excluding the impact of the Mexican peso's depreciation. Peso weakened 2.6% from the end of June last year to the end of June this year. ($1 = 18.7654 pesos at end-June)
Reuters
2 hours ago
- Business
- Reuters
Mexico's Televisa cuts 2025 investment budget, shares trim gains
MEXICO CITY, July 23 (Reuters) - Mexico's largest broadcaster Grupo Televisa announced on Wednesday a reduction in its capital expenditure for 2025, lowering it to $600 million from the $665 million previously disclosed. Following a conference call on its second-quarter results, shares in the world's biggest producer of Spanish-language content rose 3.6%. The gain pared earlier increases, as the shares had climbed by as much as 7.6% earlier in the day. "While we expect CAPEX deployment to accelerate during the second half of the year, we are cutting our CAPEX budget," Televisa Co-Chief Executive Alfonso de Angoitia told the conference, explaining that successful negotiations with suppliers have resulted in more favorable terms for the company. On Tuesday the broadcaster reported a net profit of 474.5 million pesos ($25.3 million) for the second quarter, a rebound from the 25.6 million peso loss in the year-ago period. The quarterly profit was largely supported by lower costs, despite a decrease in subscriptions, particularly for its satellite TV unit, SKY. The company's revenues totaled 14.73 billion pesos, a 6% decrease from the same period last year. However, Angoitia added that revenues would have remained unchanged when excluding the impact of the Mexican peso's depreciation. Peso weakened 2.6% from the end of June last year to the end of June this year. ($1 = 18.7654 pesos at end-June)
BBC News
21 hours ago
- Sport
- BBC News
A year to go but no UK broadcaster for Glasgow Commonwealth Games
With a year to go until the Commonwealth Games in Glasgow organisers have yet to secure a UK broadcaster to televise the between the hosts and a number of broadcasters have been ongoing for some time but no agreement has been reached for live BBC has been the principal broadcaster of the Games since TV coverage began in it is understood an agreement is still some way off, with some sources within the corporation suggesting a waning appetite for continuing its association with the event. An agreement to broadcast Glasgow 2014, was in place a full three years before it the deal for the BBC to broadcast the last Games in Birmingham in 2022, was signed two years before the agreement represented the 18th consecutive Games to be broadcast by the BBC said it does not comment on sports rights Batty, chief executive of Glasgow 2026, said: "This week we have just announced Sky New Zealand as one of our broadcast partners. "We also have Channel 7 in Australia, and there will be news on a UK broadcaster later this year."Glasgow stepped in to host next year's event after a number of cities pulled out for financial majority of the £114m budget is coming from the £100m in compensation paid by the state of Victoria after they pulled out of hosting in Scottish government gave its backing after receiving assurances that no public money would be used for the event, which is being scaled back to 10 core sports and four includes a revamped Scotstoun stadium which will host the athletics. The one-year countdown to a large-scale sporting event provides the perfect opportunity for organisers to remind people what's coming and why they should be for the team behind Glasgow 2026, it's also stark reminder of just how little time they have left to deliver an event that, at times, has seemed unloved and even was confirmed as the host city in October last year but only after a number of other cities pulled out for financial reasons and a sceptical Scottish government was eventually convinced to back seemed like Glasgow or bust for an organisation that continues to fight for sporting and cultural relevance in a big event world where money talks only marginally louder than that as the backdrop, those in charge of the Games were forced to admit, perhaps sooner than they would have liked, that a "reset" was difficult to escape the euphemistic use of the simply, for the Commonwealth Games to survive they knew it had to be scaled back to make it financially more step forward Glasgow as the guinea pig saviour or canary in the coal mine. Glasgow 2026 won't just be a sporting those desperate to see the Games have a long-term future, want it to be a blueprint for others to copy. A year out, we know roughly what the Games will look we can't predict is what the Games will feel like. This is a first and getting it right is a must for those who champion the Commonwealth in those organisers can't really control is the inevitable comparisons to Glasgow the Games were last in the city, the overall cost was £543m. This time the budget is between £114-£ this time, no public money is being used. The state of Victoria, which had to pay compensation for pulling out of hosting, have delivered a £100m cash remaining cash will be provided by sponsorship and ticket sales revenue. In fairness, those in charge of the event this time around haven't hidden from the obvious fact they highlight that these games have been made possible by the building and infrastructure legacy left by Glasgow may be true but, with limited infrastructure changes and no promise of a city wide face-lift, what will the legacy be this time around? Like any large-scale sporting event, public support is mascots and catchy slogans will do some of the heavy the organisers of this event know getting the message across that these Games won't be funded from the public purse is the key that could unlock the support they need. Most Glaswegians have fond memories of Glasgow 2014 but whether or not they will get as excited for a hugely scaled back version remains to be putting on the show insist it's free money for the city and its residents - a Glasgow party paid for by as important as public backing is the buy-in from athletes. Don't underestimate what it means for some within the key Commonwealth countries to compete against each other. There's little doubt that the Games still have significance for many but with an ever-expanding sporting calendar, there is plenty of athletics, the Diamond League has expanded to include more meetings across different continents. The World Athletics Championships have also grown in terms of participants and countries swimming schedule is also expanding with discussions aimed at professionalising the sport and increasing its could see these Games as a good midway point in their preparations for the LA Olympics in 2028 but others may want to prioritise different the Games look to reset in scale, there's also an understanding within the organisation that questions over how culturally relevant they are, won't go away. For many of the smaller nations and territories, the event provides a platform to compete, win medals and boost national pride through Commonwealth Games is often framed as a celebration of shared history and cultural ties, but it cannot shake the fact that, for many, the Games are viewed as an outdated nod to a colonial the Games at a crossroads in so many ways, Glasgow 2026 has been tasked with, not only keeping the event alive, but proving that it can have a future.
Reuters
a day ago
- Business
- Reuters
Mexican broadcaster Televisa flips to profit in second quarter
MEXICO CITY, July 22 (Reuters) - Mexican broadcaster Televisa ( opens new tab on Tuesday reported a net profit of 474.5 million pesos ($25.3 million) for the second quarter, landing in the black after logging a 25.6 million peso loss in the year-ago period. Revenues slid 6%, meanwhile, to 14.73 billion pesos, in line with the estimate from analysts polled by LSEG. ($1 = 18.7654 pesos at end-June)
