New Street: Mexican Cable Capex mean reverting; MEGA to Reduce
Megacable is steering the market up on capex and suggesting that potentially half of its HFC homes passed will be overlaid with FTTH in the next two years. If this plays out, this will be the sort of upgrade in HFC only recently pitched by Altice US (2017-). Ironically, this is coming at the same time as we expect Televisa's cable capex to fall in Mexico.Grupo Televisa is a holding company. Through its subsidiaries, Co. is engaged in the cable business providing integrated services, including video, high-speed data and voice services to residential and commercial customers as well as managed services to domestic and international carriers through five cable operators in Mexico; and an operator of direct-to-home satellite pay television system in Mexico. In the U.S., Co.'s audiovisual content is distributed through Univision Communications Inc. Also, Co. has interests in magazine publishing and distribution, radio production and broadcasting, professional sports and live entertainment, feature-film production and distribution, and gaming.
Megacable Holdings and its subsidiaries are engaged in the installation, operation, maintenance and exploitation of cabling network distribution, internet and telephone systems.
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New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:
- Pan European Telecom Services and Cable
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- Pan European Telecom Services and Cable
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