TelevisaUnivision Narrows Q4 Loss Despite Impairment Charges

Spanish-language media giant TelevisaUnivision narrowed its losses in the fourth-quarter despite a $900 million non-cash impairment charge and declines in revenue at its Mexican operations after the company worked to streamline the merger that placed the Univision television network and the Televisa TV operations under the same corporate umbrella.

TelevisaUnivision said revenue in the fourth quarter fell 1% to $1.3 billion, with cash from advertising and distribution falling in Mexico, while growing in the U.S. The company said operating expenses were “essentially flat” at $892 million.

The company’s fourth quarter loss came to $809.7 million, compared with $912.1 million in the year-earlier period. TelevisaUnivision said it took at non-cash impairment charge of around $900 million in the fourth quarter “related to the write-down of television broadcast licenses, multi-system operator relationships, affiliate relationships and trade names.”

“With our newly unified organizational structure, we are fully harnessing the strengths of Univision in the U.S. and Televisa in Mexico to drive further connectivity and expand our impact as a global content leader,” said Daniel Alegre, who was named CEO of the company last year. “Our platforms are home to the best Spanish language content — from dramas and comedies, to live sports, news and events –and we will continue to be steadfast in delivering the most dynamic offerings for our audience and the most impactful solutions for our commercial partners.”

Alegre took the reins of TelevisaUnivision after Wade Davis, the former Viacom CFO who orchestrated a buyout of Univision in 2020 before merging it with Mexico’s Grupo Televisa in 2022, ceded his CEO role to him. Alegre was president and chief operating officer of Activision Blizzard, which was acquired for $69 billion by Microsoft. Davis remains TelevisaUnivision’s vice-chairman.