With the aim of creating a television megaplatform and to monopolize the market, Televisa Group prepares the union of two of the most popular brands in Mexico: Izzi and Sky.
According to statements by Francisco Valim, executive director of both brands, the integration arises after the agreement reached between Grupo Televisa and AT&T to acquire AT&T’s participation in Sky México, thus granting Televisa full control over satellite television company.
Valim states that the integration will allow optimize efforts towards the marketand in a few days it will be able to go on the market, since most of this merger will take place between the months of April and June.
This process is expected to include the homogenization of regions, sales channels, commission regimes and better management of the customer basewith the aim of reducing financial expenses and increasing Izzi’s competitiveness.
Individual challenges
The Merger between Sky and Izzi comes as both companies face significant challenges. Sky recorded a loss of 250,600 net subscribers in the first quarter of 2024, according to JP Morgan analysis, which has impacted Grupo Televisa’s consolidated results.
After the announcement of the integration, the actions of Grupo Televisa experienced an increase of 6.5%, reflecting investors’ confidence in this strategy. In addition, Televisa reported net profits of 951.8 million pesos in the first quarter, recovering from two consecutive periods of losses, thanks to a reduction in financial expenses.
Although no specific details about the integration have been revealed, it is known that Francisco Valim, former CEO of Izzi, has been appointed CEO of Sky. On the other hand, the closure of fans has been confirmed, with all their content migrating to ViX Premium, as part of these first changes.
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