Mexican broadcaster Televisa posts wider fourth-quarter loss at $471 million

Adds conversion to USD, reasons for fall in profits and revenue

MEXICO CITY, Feb 20 (Reuters) - Mexico's largest broadcaster Grupo Televisa TLEVISACPO.MX posted a wider fourth quarter net loss of 9.8 billion pesos ($471 million), compared to the 6.8 billion-peso-loss in the year-ago period, according to a filing published on Thursday.

The broadcaster, the world's biggest producer of Spanish-language content, said the quarterly loss was largely due to a fall in its operational profits and higher costs in some assets.

The company's revenues during the October-to-December period totaled 15.2 billion pesos, a nearly 7% decrease from the same three months in 2023.

Televisa said in the filing the quarterly fall in revenue was due to a slight drop in its subscription base, plus a 6.3% reduction in revenue from its business operations and a 12.4% fall in its revenue from its satellite TV unit Sky.

Sky had around 270,400 disconnections of revenue-generating units (RGUs) in the quarter.

The company said its cash and cash equivalents grew last year by 13.6 billion pesos to reach about 48.7 billion pesos ($2.3 billion), an increase of nearly 40% from the previous year.

($1 = 20.8829 pesos at end-December)