Televisa acquires AT&T’s Sky Mexico stake
April 8, 2024
Mexican telco Grupo Televisa has reached an agreement with AT&T for the acquisition of its participation in Sky Mexico, by which the company would become owner of 100 per cent of Sky’s capital stock. As part of this agreement, the transaction price would be paid by the company in 2027 and 2028. The transaction is subject to customary regulatory approvals. Financial terms were not disclosed.
Televisa has also announced that Luis Malvido will step down as Chief Executive Officer (CEO) of Sky Mexico on April 15th, after serving in this position for over two years.
In a joint statement, Grupo Televisa’s Co- CEOs, Bernardo Gómez and Alfonso de Angoitia, said: “On behalf of Grupo Televisa, we would like to express our deepest gratitude to Luis for his leadership, innovation, and valuable contributions to the Company. Luis has been instrumental in the evolution and simplification processes of our core business at Sky, and we wish him continued success in his future projects.”
Francisco Valim will take over as CEO of Sky and will remain as CEO of Grupo Televisa’s Cable segment (izzi).
“As CEO of both the Cable and Sky segments, Francisco will have the mandate of generating significant synergies and efficiencies for Televisa,” said Bernardo Gómez and Alfonso de Angoitia. “We are confident this decision will allow us to strengthen Televisa’s competitive and financial position.”