Mexico

Grupo Televisa SAB: TLEVISA, Quarterly Report 1Q21: Advertising virtually at pre-pandemic levels

  • Tlevisa's report confirms a strong recovery in Advertising sales, while Pay TV maintained a favorable performance

  • Content's cost and expense reduction plan boosted profitability, while focus will continue on the merger with Univision

  • Assuming a higher value for Televisa-Univision, we raised our PT to $61.00. While we reiterate our BUY rating

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