At yesterday’s close, Grupo Televisa S.A (OTC: GRPFF) gained 164.42% to conclude the session at $2.75. The Televisa stock price was stable throughout the day despite trading just 100 shares, compared to its average weekly trading volume of 124.18K. GRPFF’s stock rose in the absence of recent news, so we can refer to recent developments to gain a deeper understanding of the company.
How did things go at the GRPFF recently?
The Spanish-speaking world’s largest media company, Televisa operates a leading pay satellite system in Mexico, as well as a cable operator. A wide variety of broadcast channels are distributed by GRPFF in Mexico as well as over 70 other countries through 27 pay-TV brands, television networks, cable operators, and OTT services.
GRPFF distributes its audiovisual content through Univision Communications Inc. (“Univision”), one of the leading media companies serving the Hispanic market in the United States. A royalty payment is made to Univision for broadcasting GRPFF’s videos on multiple platforms.
In a recent statement, Grupo Televisa, Mexico’s largest broadcaster, said that its merger with Univision had been “well received,” and in fact shareholders had already begun reaping the benefits.
Televisa Univision, announced earlier in April, led to value creation of almost $2 billion for GRPFF shareholders, noted Alfonso de Angoitia, Co-Chief Executive. The deal has already been well received, and we look forward to closing the deal later in 2021, Angoitia added.
GRPFF’s Quarterly performance:
Televisa (GRPFF) trimmed losses in the first quarter to 584 million pesos ($ 29 million) as a result of partnerships and reduced financial expenses. In the same period last year, GRPFF lost 9.7 billion pesos. The GRPFF reported quarterly revenues of 23.83 billion pesos, up 2.6% year over year. In the advertising business at GRPFF, sales increased 28.1% to 3.37 billion pesos.