Grupo Televisa SAB ADR

TV: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$6.00	Brx	Rnjf

Growth Remains Elusive for Televisa's Cable and Sky Businesses During Second Quarter

Michael Hodel

Jul 28, 2022

Televisa’s consolidated businesses, cable and Sky, struggled to generate growth during the second quarter. The firm used its earnings call to outline strategic plans for the Sky satellite business, including a new partnership with AT&T to offer wireless services in Mexico, plans to launch a new content aggregation platform, and initiatives to expand in Central America. We aren’t optimistic about Sky’s growth potential, given the expansion of telecom infrastructure in Mexico, but we expect it will play a role in serving a substantial portion of the market in the years ahead. We are maintaining our $14 fair value estimate.

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