Televisa's Q4 earnings flat

Modest growth for broadcast TV division's ad sales

MEXICO CITY -- Televisa on Thursday posted flat fourth-quarter earnings as sales in the Mexican media giant's core broadcast TV division reported modest growth.

Mexico's top network said quarterly net income was 2.84 billion pesos ($206 million), up just a fraction from the 2.83 billion pesos earned during the same period last year.

Net sales came in at 14.5 billion pesos, representing an 18% jump from the previous period.

For the full year, net profit rose 2%, and revenues increased nearly 19%, thanks in large part to exceptionally strong growth from its pay TV and telecommunications units.

Televisa-owned satcaster Sky Mexico saw its subscriber base climb to well over 1.7 million, while its cable TV division reported a significant spike in sales and users as well.

Televisa, which provides U.S. Spanish-language broadcaster Univision with a bulk of its primetime content, recently settled a long-running legal dispute over royalty payments with its stateside partner. The settlement, which is expected to net Televisa almost $600 million, was seen as a win-win for both companies. Televisa was seeking to terminate its long-term program license agreement with Univision, which would have left the top Latino network in a precarious position had Televisa prevailed in court.