Televisa shares sink 12.7% on index exclusion risk

Grupo Televisa shares dropped 12.70% on Monday 7 September to close at 7.74 Mexican pesos on the Mexican stock exchange. The drop brought the stock near its annual low and close to one of its lowest levels in five years.

In a statement to the exchange, Televisa said the decline was not caused by new problems in its financial results or changes in its balance sheet. Instead, the company pointed to preliminary review results released on 4 September by S&P Dow Jones Indices. Those results indicated Televisa could be removed from the benchmark S&P/BMV IPC starting 21 September. Final results are scheduled for publication on 11 September.

Televisa noted that funds tracking the benchmark may sell shares ahead of the potential change, increasing supply in the market. The company confirmed it did not use its share buyback fund during the session and was not aware of any trading by board members or top executives. Bernardo Gómez Martínez and Alfonso de Angoitia Noriega lead the company as executive co-presidents following Emilio Azcárraga Jean stepping away from direct management.

In the second quarter, Televisa reported a 3% drop in revenue to 14,288.9 million pesos, weighed down by Sky. Operating profit rose 5% with an operating margin of 41.8%. Internet and phone revenue increased 1.8% and added 78,700 revenue generating units, while Sky lost 279,100 accounts. At the end of June, the company had cut debt by 5,344.6 million pesos compared to December 2025.