Televisa Group announced this Thursday that its board of directors approved the separation of its soccer business and the iconic Aztec stadiumas well as the segments of raffles and the publication of magazines.
The company, which is the largest producer of audiovisual content in Spanish, presented its quarterly results report. There he mentioned that with this reorganization there will be the creation of a new company that would be listed on the Stock Exchange.
“This plan will allow both the company and the new company resulting from the spin-off to focus on their respective business models and growth opportunities, being able to generate better conditions of access to capital, sources of financing and investors,” he said.
Not everything is written for Televisa and the Azteca Stadium
Although the announcement has already been made, the decision is not yet irreversible. The proposed separation of businesses and the Azteca Stadium must await the authorization of the company’s corporate plenary session and the Mexican regulatory authorities. If everything goes as planned for televisa, this split would be implemented at the end of the first half of 2023.
As reported ForbesTelevisa reported a 47% year-over-year increase to 1,118 million pesos ($56 million) in its third-quarter net income.
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