Televisa sits pretty
Mexico net silent on plan for $1.4 bil
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During a Friday morning conference call with analysts following Thursday's release of boffo fourth quarter results, Televisa VP Alfonso de Angoitia said net was not yet in any talks concerning Univision, the Stateside Spanish-language web now on the block. Web was founded by Televisa topper Emilio Azcarraga Jean's grandfather in 1961.
"We are in the early stages of analyzing the different scenarios to determine if it makes sense for us or not," de Angoitia said.
He said the company would evaluate "growth opportunities" before deciding if it would issue an extra dividend to stockholders.
However, Merrill Lynch analyst Michael Kopelman wrote in a report following the call that the postponement of the dividend announcement until an April shareholders meeting "could be related to a potential bid for Univision."
The growing young U.S. Hispanic market makes Univision, with its 80% share, a uniquely attractive company.
Jose Baston, corporate VP of television, boasted that -- thanks to Televisa content -- Univision could now be considered the third-place U.S. network for its share of 18- to 34-year-old auds.
Since Univision said in early February that it was looking for a buyer, eyes are on major U.S. media companies Time Warner, Disney and Viacom that have previously expressed interest in the company controlled by Jerry Perenchio.
Televisa owns around 11% of Univision, while the Cisneros family, owner of Venezuela's Venevision, holds around 13%. Foreign participation in U.S. broadcasters is limited to 25%.
Televisa is seeking the suspension of its programming deal with Univision in an L.A. district court and any buyer would have to broker a deal with Televisa.
Televisa could also make a bid for Univision with a non-media equity partner.
Back home in Mexico, Televisa continues to rake in cash as the dominant broadcaster and owner of pay TV systems.
Televisa reported revenue of more than $3 billion in 2005, up 8% compared to 2004 sales, and yearly earnings of $576 million, a 37% gain over 2004.
De Angoitia said Televisa would be able to offer telephone service over its digital cable network by the third quarter.
However, legislation to allow cablers to offer a telephone service has not yet been approved.
