Oct. 22 (Bloomberg) -- Grupo Televisa SA, the world’s largest Spanish-language broadcaster, said third-quarter profit fell 2.6 percent as costs increased to recruit new pay- television subscribers.

Net income dropped to 2.01 billion pesos ($156 million) from 2.07 billion pesos a year earlier. Sales advanced 5.5 percent to 13.1 billion pesos, beating the 12.9 billion-peso estimate of Michel Morin, an analyst at Barclays Capital Inc. in New York.

Televisa spent more to market its products and offered cheaper packages for its satellite and cable-TV services. Sales costs contributed to a 3.4 percent drop in operating profit in the satellite business to 1.08 billion pesos. An ad campaign for a TV, Web and phone-service bundle for cable customers also ate into profit, Televisa said.

The three cable operators controlled by Televisa added more than 38,000 Internet users and 56,300 phone users.

Televisa fell 70 centavos to 52.44 pesos today in Mexico City trading. The shares have gained 28 percent this year.

To contact the reporter on this story: Crayton Harrison in Mexico City at tharrison5@bloomberg.net

Last Updated: October 22, 2009 20:15 EDT