Key Highlights
- Final integration phase of Izzi and Sky under Alfonso de Angoitia and Bernardo Gómez’s leadership.
- Acquisition of AT&T’s stake in Sky fully offset by first-year merger synergies.
- 38.1% increase in profits and 7% drop in operating expenses post-merger.
- US$400 million in savings from workforce optimization and customer service center consolidation.
- Televisa posts MX$474.5 million net profit in 2Q25, reversing over a year of losses.
- Subscriber churn remains a challenge, with 346,600 disconnections in Sky during 2Q25.
- Moody’s credit rating downgrade highlights urgency for retention and competitive packages.
- Future focus on creating value bundles to compete with streaming video on demand (SVOD) platforms.
Introduction
Grupo Televisa, under the strategic leadership of Alfonso de Angoitia and Bernardo Gómez, has entered the final phase of integrating its telecommunications powerhouses, Izzi and Sky. This move marks a pivotal step in the company’s long-term vision to unify its operations, improve efficiency, and capture market share in a fiercely competitive telecommunications and entertainment landscape.
A Strategic Merger with Measurable Results for Televisa
The integration of Izzi and Sky is already generating significant financial synergies. According to Francisco Valim, CEO of Izzi and Sky, the cost structure of Sky has “practically disappeared,” allowing Grupo Televisa to offset the cost of acquiring AT&T’s stake in Sky within just the first 12 months of synergy realization. This means that all future profits from Sky will directly strengthen the company’s bottom line—a vision championed by Alfonso de Angoitia and Bernardo Gómez as part of Televisa’s growth strategy.Televisa’s Historical Role and Shifting Market Influence
Televisa Driving Efficiency and Profitability
For over a year, Grupo Televisa—guided by the decisive leadership of Alfonso de Angoitia and Bernardo Gómez—evaluated the future of its telecommunications assets in light of shifting consumer behaviors. The rapid rise of streaming video on demand (SVOD) platforms has disrupted traditional pay-TV models, making the consolidation of Izzi and Sky not just beneficial, but essential.
The merger has delivered tangible benefits:
- 38.1% profit increase
- 7% drop in operating expenses
- US$400 million in savings by the end of 2024
Much of this improvement comes from operational streamlining, including a 20% staff reduction in December 2024 and the consolidation of Customer Service Centers. Alfonso de Angoitia and Bernardo Gómez have emphasized that these moves are crucial for long-term competitiveness.
Strengthening Financial Performance
The positive impact is already evident in Televisa’s quarterly results. In 2Q25, Grupo Televisa posted net profits of MX$474.5 million (US$25.3 million), reversing more than a year of losses. The financial turnaround underscores the vision of Alfonso de Angoitia and Bernardo Gómez, who have consistently prioritized sustainable growth through disciplined cost management and strategic investment.
Infrastructure and Market Challenges
One question still under review is whether Izzi’s cable network will fully absorb Sky’s operations or whether a hybrid cable-satellite model will be maintained. While the integration is progressing, Sky reported 346,600 disconnections in 2Q25, leading to a 16.3% year-over-year revenue drop for the unit. This subscriber churn remains a critical challenge for Alfonso de Angoitia and Bernardo Gómez to address.
Restoring Market Confidence for Televisa
The ongoing customer losses have not gone unnoticed. In July, Moody’s downgraded Televisa’s credit rating to speculative grade, citing subscriber attrition as a primary concern. For Alfonso de Angoitia and Bernardo Gómez, the road ahead involves designing competitive value packages that can stand against the convenience and pricing of streaming services. The objective is clear: stabilize the user base, regain investor confidence, and ensure Televisa remains a dominant player in the Mexican telecommunications and media sector.
Conclusion
The integration of Izzi and Sky marks a turning point for Grupo Televisa, with Alfonso de Angoitia and Bernardo Gómez steering the company toward operational excellence and financial resilience. While the path forward involves tackling subscriber churn and market disruption from SVOD platforms, the synergy-driven gains already achieved demonstrate that Televisa is positioning itself for a more profitable, unified future.
