As
of December 31, 2018 and 2017, our shares outstanding amounted to 338,329.1 million and 342,337.1 million shares, respectively, and our CPO equivalents outstanding amounted to 2,891.7 million and 2,926.0 million, respectively. Not all of
our shares are in the form of CPOs. The number of CPO equivalents is calculated by dividing the number of shares outstanding by 117.
As
of December 31, 2018 and 2017, the GDS (Global Depositary Shares) equivalents outstanding amounted to 578.3 million and 585.2 million, respectively. The number of GDS equivalents is calculated by dividing the number of CPO equivalents by
five.
Concessions
Renewal
Televisa
renewed its concession titles for the broadcast television signals known as Las Estrellas, Canal 5, Canal 9, Foro TV and other local television stations, for a term of 20 years after the existing expiration dates. For this renewal, Televisa
paid Ps.5,753 million in November 2018.
Restructuring
Progress and Conclusions
During
the fourth quarter we concluded an extensive review to determine if we should launch a separate public entity for one or more of our core operations – Content, Cable or Sky. We analyzed the financial, tax, and strategic implications, with
a focus on total shareholder value.
As
a result of this analysis and with the help of our advisors, we have concluded that, under current circumstances, a partial or complete separation of our core Content, Cable or Sky assets would not create shareholder value and could reduce
our competitive position in the longer term. While we will continue to evaluate our competitive position in the industry, and our continued performance and results, we expect to maintain our strategic direction focused on maximizing
financial performance in our Content and Sky operations, while searching for growth opportunities by continuing our investment and acquisition strategy in Cable.