Overview

• Televisa closed up 8.1% at 9.98 pesos after rising as much as 9.32% intraday to 10.09 pesos.
• J.P. Morgan raised its rating from neutral to overweight, lifting its 2025 adjusted EPS forecast to 2.81 pesos from 2.22.
• ViX+ now contributes about 20% of TelevisaUnivision revenue, up from roughly 14% a year earlier, and has reached EBITDA profitability.
• TelevisaUnivision cut net debt to EBITDA to 5.5x from 6.1x, with U.S. advertising performance outpacing peers.
• J.P. Morgan estimates Televisa’s stake in TelevisaUnivision could add 26%–49% to the share value, noting Televisa owns about 45% of the unit.