Emilio Azcarraga Jeanowner of the América club and executive president of the Board of Grupo Televisa, the largest media conglomerate in Latin America, requested a license with immediate effect while it is carried out an investigation by the United States Department of Justice in relation to FIFAas reported this Thursday by the company.
«Grupo Televisa announced that its Board of Directors approved a proposal from Mr. Emilio Azcárraga Jean, executive president of the Board, to take leave, with immediate effect, while the investigation being carried out by the Department of Justice of the United States, related to FIFA,” states the financial report sent to the Mexican Stock Exchange (BMV).
The case, which had initially been revealed by Televisa, on August 30, refers to alleged bribes to FIFA officials to obtain the broadcasting rights for the World Cup from 2018, 2022, 2026 and 2030.
Azcárraga Jean, who has led Televisa for more than two decades, after succeeding his father who founded the company in 1973, and is one of the most influential figures in the media in Mexico and Latin Americadecided to step away from his position amid the growing legal pressures facing the conglomerate.
Although the economic and reputational impact of this investigation is still uncertain, the company stressed that it will continue to fully cooperate with the authorities to clarify the facts.
«The company was aware that the investigation carried out by the US Department of Justice, related to FIFA, could have a material impact on the financial situation or results of operations of the company. “The company cannot predict the outcome of the investigation or whether it will actually have a material impact,” he reported.
The investigation is part of a broader case that involves several companies and managers in the corruption scheme known as ‘FIFAgate’, which has shaken the world of football in recent years.
Since the revelation of the reopening of the case in August, Televisa shares have shown some volatility in the markets.
However, Azcárraga Jean will continue to be linked to the company, although with his license, the television conglomerate faces a key challenge in the midst of an already complex context for the media industry in Mexico and globally.
#Emilio #Azcárraga #leaves #Televisa #Group #due #Fifagate #investigation
