Morningstar Rating

Stock Research and Analysis

by Peter Wahlstrom, CFA

Bulls Say

Televisa's Sky TV satellite business continues to take share and should increase the firm's competitive positioning.
Televisa's TV broadcast operations consistently achieve EBITDA margins above 45%; we expect this to continue.
Popular telenovelas are proven hits in Mexico and in other markets like the U.S., China, and Brazil. Read more 

Bears Say

A substantial portion of Televisa's revenue, particularly at its Sky and cable/telecom units, is tied directly to consumer spending, leaving it vulnerable to a pullback in economic growth.
Televisa benefits from a previously benign regulatory environment in Mexico; a hostile policy shift could adversely affect revenue and profitability.
Its storied and profitable telenovelas are facing increased competition from upstart alternatives, as rival programming becomes more readily accessible to its Spanish-speaking viewing audiences in Mexico and the U.S. Read more 


We currently view Grupo Televisa's stewardship of shareholder capital as Standard. Emilio Azcarraga Jean is the firm's main decision-maker; he serves as president, CEO, and chairman. He controls about half of Televisa's outstanding shares through a   Read more 


Grupo Televisa is the largest media company in the Spanish-speaking world. Besides operating broadcast channels in Mexico, the company produces pay-television channels whose   Read more 

A Deep Discount on This Narrow-Moat Metals Stock 
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