Televisa 1st-qtr. profits rise

$95.2 mil profit big change from 1997's 1st-qtr. perf

MEXICO CITY — Televisa posted a healthy upturn for first quarter 1998 late Wednesday, and almost simultaneously announced a $675 million windfall due to its exit from satellite operator PanAmSat.

The Mexican media conglom saw profits of $95.2 million versus a loss of $26.8 million in first quarter 1997.

The PanAmSat sale, made to majority owner Hughes Electronics Corp., marks the end of a relationship dating back to 1992, when Televisa paid a mere $200 million for a 50% of the satellite operator.

In May 1997, when PanAmSat was bought out by Hughes, Televisa received $650 million and retained a 7.5% interest.

Revenue in the first quarter rose a mere 2.2% in real peso terms, to $371 million, with TV sales (accounting for 59% of the total) up 4.6%.

“They have proven they can turn the ratings story around, but they now need to translate audience share into ad share,” said Whitney Johnson of Salomon, Smith Barney, referring to Televisa’s success in winning back some of the ground lost to rival TV Azteca.

Johnson also praised Televisa’s ongoing cost-cutting program — cash flow (earnings before interest, taxes, depreciation and amortization) was up 18.3% — but added there was much more needing to be done.

More Biz

  • Loveless Movie Wild Bunch

    Once-Powerful Indie Player Wild Bunch Seeks a White Knight

    MEXICO CITY — Televisa posted a healthy upturn for first quarter 1998 late Wednesday, and almost simultaneously announced a $675 million windfall due to its exit from satellite operator PanAmSat. The Mexican media conglom saw profits of $95.2 million versus a loss of $26.8 million in first quarter 1997. The PanAmSat sale, made to majority […]

  • (L-R) Jodi Kantor and Megan Twohey

    How New York Times Reporters Broke Hollywood's Biggest Sexual Harassment Story

    MEXICO CITY — Televisa posted a healthy upturn for first quarter 1998 late Wednesday, and almost simultaneously announced a $675 million windfall due to its exit from satellite operator PanAmSat. The Mexican media conglom saw profits of $95.2 million versus a loss of $26.8 million in first quarter 1997. The PanAmSat sale, made to majority […]

  • Roman Polanski

    LAPD Investigating Allegations Against Roman Polanski, Case Cannot Be Prosecuted

    MEXICO CITY — Televisa posted a healthy upturn for first quarter 1998 late Wednesday, and almost simultaneously announced a $675 million windfall due to its exit from satellite operator PanAmSat. The Mexican media conglom saw profits of $95.2 million versus a loss of $26.8 million in first quarter 1997. The PanAmSat sale, made to majority […]

  • Democratic candidate for U.S. Senate Doug

    Celebrities Celebrate Doug Jones' Senate Win: 'This Is A Pretty Good Night'

    MEXICO CITY — Televisa posted a healthy upturn for first quarter 1998 late Wednesday, and almost simultaneously announced a $675 million windfall due to its exit from satellite operator PanAmSat. The Mexican media conglom saw profits of $95.2 million versus a loss of $26.8 million in first quarter 1997. The PanAmSat sale, made to majority […]

  • Rescue dogs

    Film Publicists Organize New York City Fundraiser for Rescue Dogs

    MEXICO CITY — Televisa posted a healthy upturn for first quarter 1998 late Wednesday, and almost simultaneously announced a $675 million windfall due to its exit from satellite operator PanAmSat. The Mexican media conglom saw profits of $95.2 million versus a loss of $26.8 million in first quarter 1997. The PanAmSat sale, made to majority […]

  • pandora

    Pandora Names Aimée Lapic Chief Marketing Officer

    MEXICO CITY — Televisa posted a healthy upturn for first quarter 1998 late Wednesday, and almost simultaneously announced a $675 million windfall due to its exit from satellite operator PanAmSat. The Mexican media conglom saw profits of $95.2 million versus a loss of $26.8 million in first quarter 1997. The PanAmSat sale, made to majority […]

More From Our Brands

Access exclusive content