Split picture for Mexico’s Televisa, CIE

Companies offer differing earnings reports

MEXICO CITY — Two of Mexico’s three largest showbiz companies, Grupo Televisa and Corporacion Interamericana de Entretenimiento (CIE) reported sharply differing fortunes for the third quarter.

Televisa saw group sales slump 5% to 5.2 billion pesos ($565 million) compared with the same period in 2000. And even though net profits soared 75% to $35 million, rise was dismissed by analysts as due to accounting rather than operational reality, with Televisa declining to consolidate further costs from affiliates such as direct-to-home outfit Sky Mexico.

Televisa’s falling sales were largely blamed on the softening ad market although some analysts said it was performing well in tough times.

Terrestrial broadcasting, the boiler room of Televisa cash generation, saw sales drop nearly 5% to $348 million. But Mexico’s No. 1 TV web insisted group sales had risen nearly 2% allowing for the impact of the 2000 Olympic Games.

Meanwhile, CIE, Latin America’s largest live entertainment corporation, saw revenues rise 13% to $137 million while profits jumped to $311 million from $267 million.

More Biz

  • Matt Sawin Capitol Music Group

    Caroline Names Matt Sawin Executive VP

    MEXICO CITY — Two of Mexico’s three largest showbiz companies, Grupo Televisa and Corporacion Interamericana de Entretenimiento (CIE) reported sharply differing fortunes for the third quarter. Televisa saw group sales slump 5% to 5.2 billion pesos ($565 million) compared with the same period in 2000. And even though net profits soared 75% to $35 million, […]

  • Universal Music Group

    Universal Music Launches Nigerian Division

    MEXICO CITY — Two of Mexico’s three largest showbiz companies, Grupo Televisa and Corporacion Interamericana de Entretenimiento (CIE) reported sharply differing fortunes for the third quarter. Televisa saw group sales slump 5% to 5.2 billion pesos ($565 million) compared with the same period in 2000. And even though net profits soared 75% to $35 million, […]

  • Bruno Mars Grammys

    Recording Academy Announces Date, Deadlines for 2019 Grammy Awards

    MEXICO CITY — Two of Mexico’s three largest showbiz companies, Grupo Televisa and Corporacion Interamericana de Entretenimiento (CIE) reported sharply differing fortunes for the third quarter. Televisa saw group sales slump 5% to 5.2 billion pesos ($565 million) compared with the same period in 2000. And even though net profits soared 75% to $35 million, […]

  • The Matcha Bros

    Ansel Elgort, Diplo, Billie Eilish and Von Miller Invest in MatchaBar Energy Drink

    MEXICO CITY — Two of Mexico’s three largest showbiz companies, Grupo Televisa and Corporacion Interamericana de Entretenimiento (CIE) reported sharply differing fortunes for the third quarter. Televisa saw group sales slump 5% to 5.2 billion pesos ($565 million) compared with the same period in 2000. And even though net profits soared 75% to $35 million, […]

  • Ron Burkle

    Ron Burkle Sues Lantern Capital Over Weinstein Co. Costs

    MEXICO CITY — Two of Mexico’s three largest showbiz companies, Grupo Televisa and Corporacion Interamericana de Entretenimiento (CIE) reported sharply differing fortunes for the third quarter. Televisa saw group sales slump 5% to 5.2 billion pesos ($565 million) compared with the same period in 2000. And even though net profits soared 75% to $35 million, […]

  • Netflix Reed Hastings

    Netflix Falls Short of Q2 Subscriber Expectations Worldwide, Stock Dives

    MEXICO CITY — Two of Mexico’s three largest showbiz companies, Grupo Televisa and Corporacion Interamericana de Entretenimiento (CIE) reported sharply differing fortunes for the third quarter. Televisa saw group sales slump 5% to 5.2 billion pesos ($565 million) compared with the same period in 2000. And even though net profits soared 75% to $35 million, […]

More From Our Brands

Access exclusive content