Televisa Posts Loss on Exit From Mobile After Iusacell Sale
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Grupo Televisa SAB reported a third-quarter loss after booking a one-time charge for exiting its ill-fated investment in Mexican wireless operator Grupo Iusacell SA. The shares dropped the most in more than a year.
The net loss of 182.8 million pesos ($13.5 million) compared with net income of 2.39 billion pesos a year earlier, according to a statement yesterday from the world’s biggest Spanish-language broadcaster. Banco Itau BBA had estimated a net loss of 370 million pesos. The company said it would miss its full-year revenue forecast for its TV programming business after Mexican lawmakers placed limits on junk-food advertising.