Grupo Televisa, S.A.B. (BMV:TLEVISA CPO) acquired remaining 41.3% stake in Sky Mexico from AT&T Inc. (NYSE:T).
April 02, 2024
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Grupo Televisa, S.A.B. (BMV:TLEVISA CPO) entered into agreement to acquire remaining 41.3% stake in Sky Mexico from AT&T Inc. (NYSE:T) on April 3, 2024. With this acquisition, Grupo Televisa would become 100% owner of Sky Mexico. The transaction is subject to regulatory approvals. The transaction price would be paid by the Grupo Televisa in 2027 and 2028. Luis Malvido will step down as Chief Executive Officer of Sky on April 15, 2024. Francisco Valim will take over as Chief Executive Officer of Sky and will remain as Chief Executive Officerof Grupo Televisa?s Cable segment (izzi). José Pellón Martinez Mijares, Angoitia, Cortés y Fuentes, S.C. Patricio Danel Ricardo Maldonado-Yáñez of Mijares Angoitia Cortés y Fuentes acted as legal advisors to Grupo Televisa.
Grupo Televisa, S.A.B. (BMV:TLEVISA CPO) completed the acquisition of remaining 41.3% stake in Sky Mexico from AT&T Inc. (NYSE:T) on April 3, 2024.
Grupo Televisa, S.A.B. is a media company, cable operator in Mexico and an operator of a direct-to-home (DTH) satellite pay television system in Mexico. The Company operates through four segments: Content, Sky, Cable and Other Businesses. The Content segment includes Advertising, Network Subscription, and Licensing and Syndication. The Sky segment includes DTH broadcast satellite pay television services in Mexico, Central America and the Dominican Republic. The Cable segment includes the operation of a cable multiple system in the Mexico City metropolitan area; the operation of telecommunication, and the operation of a cable multiple system. The Other Businesses segment includes its domestic operations in sports and show business promotion, soccer, feature film production and distribution, gaming, radio, publishing and publishing distribution. The Company distributes the content it produces through various broadcast channels in Mexico and in approximately 50 other countries.