Televisa Reports Mixed 2Q; Cable Division Remains the Bright Spot
Grupo Televisa posted a mixed second quarter as the Mexican media giant continues to make strides in turning its businesses around. Broadband remains a bright spot for the firm as it undergoes a transitional 2019. The outlook for advertising revenue remains weak due to the government's decision to slash advertising spending by 50% across the board and a weak macroeconomic climate. We are maintaining our wide economic moat rating for Grupo Televisa and our fair value estimate of $17. With shares ...
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