UPDATE 1-Media giant Televisa's shares jump in 'good start' to 2026, ahead of World Cup, US midterms

Mexican media ​giant Televisa's shares jumped 4% in early ​trading on Wednesday after it posted ‌first ​quarter results that beat expectations, boosted by a growing telecommunications business and despite less demand for satellite TV. The performance of the top ‌Spanish-language broadcaster provides a positive start to the year following three consecutive years of net losses.

Mexican media ​giant Televisa's shares jumped 4% in early ​trading on Wednesday after it posted ‌first ​quarter results that beat expectations, boosted by a growing telecommunications business and despite less demand for satellite TV.

The performance of the top ‌Spanish-language broadcaster provides a positive start to the year following three consecutive years of net losses. 2026 CAPEX AT AROUND 20%

* Televisa expects capital expenditures in the low twenty-percent range of revenues this year as ‌it continues to upgrade its telecommunications network, executives told analysts in a call. * This is expected to ‌come down to 15% toward the second half of 2027, they added, as the ramp up finishes next year.

WORLD CUP AND MIDTERMS * "We are well-positioned to capitalize on record political advertising spent ahead of the November midterm election," ⁠added co-CEO ​Alfonso de Angoitia ⁠in the call.

* In Mexico, he noted, Televisa is well-placed "to continue monetizing the FIFA World Cup momentum, with sales to date ⁠exceeding the prior 2022 World Cup cycle." * Televisa will broadcast around a third of FIFA World Cup matches ​on open TV and the remainder on its ViX Premium streaming service, through its ⁠joint company with U.S. Spanish-language network Univision.

PREPARED FOR M&A * "We're prepared for potential M&A opportunities in the Mexican telecommunication sector," de ⁠Angoitia ​told analysts.

* Reports emerged last year that Televisa's Izzi unit could be a leading candidate to buy AT&T's Mexico unit, though this was not confirmed by either company. * Analysts estimated a ⁠bid could land between $3 billion to $4 billion and bring Televisa some 24 million subscribers, equivalent to around ⁠17% of Mexico's market ⁠share, though it would require significant investments in Mexico's spectrum.

* Televisa is expanding its telecoms operations as it looks to offset falling demand for satellite ‌TV. ($1 = 17.4838 ‌Mexican pesos)