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Mexican broadcaster Televisa buys out AT&T for control of Sky satellite TV unit

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MEXICO CITY : Mexican broadcaster Televisa said on Wednesday it reached an agreement with AT&T for its stake in satellite TV unit Sky Mexico, giving Televisa full control of the firm.

In a filing, Televisa said the payout would happen over 2027 and 2028, but did not provide the cost of the deal. It added that the current head of its cable TV and internet service Izzi, Francisco Valim, would also lead Sky.

Shares in the Mexican company closed up 5.5 per cent on Wednesday at 10.94 pesos ($0.66) per share.

Televisa’s aim was cost-efficiency in order to drive better results for Sky, a source with knowledge of the deal said.

“It makes a lot of sense to have Televisa operating as a whole unit,” the source told Reuters.

“There are a lot of efficiencies in doing so, one management team and it’s easier to negotiate,” the source added, referring to contracts with suppliers and providers.

Sky’s performance has lagged in recent years. It saw about 160,400 disconnections in the fourth quarter of 2023, with a 15.3 per cent fall in revenue.

Televisa executives in February said about $145 million of a planned $790 million in capital expenditure will go toward Sky this year.

($1 = 16.5325 Mexican pesos)

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