Investments in Associates and Joint Ventures (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Investments in Associates and Joint Ventures |
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| Schedule of investments in associates and joint ventures accounted for by the equity method |
| | | | | | | | | | | | | Ownership as of | | | | | | | | | December 31, | | | | | | | | | 2025 | | 2024 | | 2025 | | 2024 | Associates: | | | | | | | | | | | TelevisaUnivision and subsidiaries | | 43.2 | % | 43.0 | % | Ps. | 40,694,190 | | Ps. | 43,220,986 | Other | | | | | | | 45,698 | | | 63,658 | Joint ventures: | | | | | | | | | | | Grupo de Telecomunicaciones de Alta Capacidad, S.A.P.I. de C.V. and subsidiaries (collectively “GTAC”) (1) | | 33.3 | % | 33.3 | % | | 956,508 | | | 952,721 | Periódico Digital Sendero, S.A.P.I. de C.V. and subsidiary (collectively, “PDS”) (2) | | 50.0 | % | 50.0 | % | | 203,694 | | | 199,332 | | | | | | | Ps. | 41,900,090 | | Ps. | 44,436,697 |
| (1) | GTAC was granted a 20-year contract for the lease of a pair of dark fiber wires held by the Mexican Federal Electricity Commission and a concession to operate a public telecommunications network in Mexico with an expiration date in 2030. GTAC is a joint venture in which a subsidiary of the Company, a subsidiary of Grupo de Telecomunicaciones Mexicanas, S.A. de C.V. and a subsidiary of Megacable, S.A. de C.V., have an equal equity participation of 33.3%. A subsidiary of the Company entered into long-term loans to provide financing to GTAC for an aggregate principal amount of Ps.1,614,040, with an annual interest of the Mexican Interbank Interest Rate (“Tasa de Interés Interbancaria de Equilibrio” or “TIIE”) plus 200 basis points computed on a monthly basis and payable on an annual basis or at dates agreed by the parties. Under the terms of these long-term loans, principal amounts can be prepaid at dates agreed by the parties before their maturities between 2026 and 2034. During the years ended December 31, 2025 and 2024, GTAC paid principal and interest to the Group in connection with these long-term loans in the aggregate principal amount of Ps.184,495 and Ps.183,031, respectively. The net investment in GTAC as of December 31, 2025 and 2024, included amounts receivable in connection with these long-term loans to GTAC in the aggregate amount of Ps.1,030,233 and Ps.1,024,371, respectively. These amounts receivable are in substance a part of the Group’s net investment in this investee (see Note 15). |
| (2) | The Group accounts for its investment in PDS under the equity method, due to its 50% interest in this joint venture. As of December 31, 2025 and 2024, the Group’s investment in PDS included intangible assets and goodwill in the aggregate amount of Ps.113,837. |
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| Schedule of roll forward of investments in associates and joint ventures |
| | | | | | | | | 2025 | | 2024 | At January 1 | | Ps. | 44,436,697 | | Ps. | 43,427,638 | Share of loss of associates and joint ventures, net | | | (1,868,198) | | | (960,415) | Share of other comprehensive income (loss) of associates | | | 3,905,450 | | | (7,061,676) | Long-term loans granted to GTAC, net | | | 86,142 | | | 128,881 | Foreign currency translation adjustments | | | (6,227,452) | | | 8,946,557 | Capital contribution to TelevisaUnivision | | | 1,671,501 | | | — | GTAC payments of principal and interest | | | (184,495) | | | (183,031) | Dividends from PDS | | | (5,000) | | | (10,000) | Other | | | 85,445 | | | 148,743 | At December 31 | | Ps. | 41,900,090 | | Ps. | 44,436,697 |
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| Summarized of reconciles the summarized financial information of TelevisaUnivision (formerly known as UH II) to the carrying amount of the Group's interest TelevisaUnivision |
The table below reconciles the summarized financial information of TelevisaUnivision to the carrying amount of the Group’s interest TelevisaUnivision as of December 31, 2025 and 2024, respectively (amounts in thousands of U.S. dollars): | | | | | | | | | | 2025 | | 2024 | | Ownership as of December 31 | | | 43.2 | % | | 43.0 | % | Group’s share of net assets | | U.S.$ | 1,143,371 | | U.S.$ | 955,705 | | Group’s share of net assets | | Ps. | 20,599,548 | | Ps. | 19,944,707 | | Goodwill and other indefinite-lived intangible assets | | | 6,582,267 | | | 7,624,454 | | Group’s investment in preferred shares | | | 13,512,375 | | | 15,651,825 | | Carrying amount of the Group´s interest in TelevisaUnivision | | Ps. | 40,694,190 | | Ps. | 43,220,986 | |
IFRS Accounting Standards summarized financial information of TelevisaUnivision for the years ended December 31, 2025, 2024 and 2023 (amounts in thousands of U.S. dollars): | | | | | | | | | | | | 2025 | | 2024 | | 2023 | Revenue | | U.S.$ | 4,827,200 | | U.S.$ | 5,055,500 | | U.S.$ | 4,928,000 | Depreciation and amortization | | | 531,900 | | | 551,600 | | | 570,700 | Finance income | | | 26,400 | | | 212,200 | | | 100,300 | Finance expense | | | 863,500 | | | 791,600 | | | 752,400 | Loss from continuing operations | | | (183,700) | | | (62,500) | | | (513,000) | Income tax (benefit) expense | | | 38,700 | | | (31,400) | | | (129,200) | Net loss | | | (145,000) | | | (93,900) | | | (642,200) | Other comprehensive income (loss) | | | 469,300 | | | (883,900) | | | 535,400 | Total comprehensive income (loss) | | | 324,300 | | | (977,800) | | | (106,800) | Preferred dividends received from TelevisaUnivision | | | 41,250 | | | 41,250 | | | 41,250 |
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| Summarized of reconcilies the summarized financial information of TelevisaUnivision (formerly known as UH II) to the carrying amount of the Group's interest in Televisaunivision |
The table below reconciles the summarized financial information of TelevisaUnivision to the carrying amount of the Group´s interest in TelevisaUnivision for the years ended December 31, 2025, 2024 and 2023 (amounts in thousands of U.S. dollars): | | | | | | | | | | | | 2025 | | 2024 | | 2023 | Net loss | | U.S.$ | (62,568) | | U.S.$ | (40,333) | | U.S.$ | (280,533) | Other comprehensive income (loss) | | | 202,569 | | | (379,662) | | | 233,880 | | | | | | | | | | | Net loss | | Ps. | (1,127,613) | | Ps. | (838,874) | | Ps. | (4,940,904) | Other comprehensive income (loss) | | | 3,905,473 | | | (7,061,645) | | | 4,278,446 | Purchase price allocation and other adjustments: | | | | | | | | | | Net income (loss) adjustments | | | 200,993 | | | (151,397) | | | 128,148 | Share of loss on capital contribution to TelevisaUnivision | | | (949,699) | | | — | | | — | Group’s interest in TelevisaUnivision: | | | | | | | | | | Net loss | | | (1,876,319) | | | (990,271) | | | (4,812,756) | Other comprehensive income (loss) | | | 3,905,473 | | | (7,061,645) | | | 4,278,446 |
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| Schedule of combined condensed balance sheet information related to the Group's share in associates other than TelevisaUnivision (formerly known as UH II) |
| | | | | | | | | 2025 | | 2024 | Current assets | | Ps. | 18,141 | | Ps. | 17,847 | Non-current assets | | | 39,774 | | | 43,983 | Total assets | | | 57,915 | | | 61,830 | Current liabilities | | | 14,515 | | | 13,849 | Non-current liabilities | | | 20,704 | | | 26,095 | Total liabilities | | | 35,219 | | | 39,944 | Net assets | | Ps. | 22,696 | | Ps. | 21,886 | Goodwill, purchase price allocation and other adjustments | | | 23,002 | | | 41,772 | Carrying amount of the Group’s interest in associates | | Ps. | 45,698 | | Ps. | 63,658 |
| | | | | | | | | 2025 | | 2024 | Current assets | | Ps. | 178,732 | | Ps. | 175,520 | Non-current assets | | | 1,075,367 | | | 1,065,472 | Total assets | | | 1,254,099 | | | 1,240,992 | Current liabilities | | | 85,406 | | | 56,799 | Non-current liabilities | | | 1,152,561 | | | 1,170,348 | Total liabilities | | | 1,237,967 | | | 1,227,147 | Net assets | | Ps. | 16,132 | | Ps. | 13,845 | Goodwill, purchase price allocation and other adjustments | | | 113,837 | | | 113,837 | Long-term loans granted to GTAC, net | | | 1,030,233 | | | 1,024,371 | Carrying amount of the Group´s interest in joint ventures | | Ps. | 1,160,202 | | Ps. | 1,152,053 |
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| Schedule of share of comprehensive income of associates and joint ventures other than TelevisaUnivision (formerly known as UH II) |
| | | | | | | | | | | | 2025 | | 2024 | | 2023 | Share of income of associates and joint ventures, net | | Ps. | 8,121 | | Ps. | 29,856 | | Ps. | 9,223 | Share of other comprehensive income of associates and joint ventures: | | | | | | | | | | Other items of comprehensive (loss) income, net | | | (23) | | | (31) | | | 85 | | | | (23) | | | (31) | | | 85 | Share of comprehensive income of associates and joint ventures | | Ps. | 8,098 | | Ps. | 29,825 | | Ps. | 9,308 |
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| TelevisaUnivision |
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| Investments in Associates and Joint Ventures |
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| Schedule of combined condensed balance sheet information related to the Group's share in associates other than TelevisaUnivision (formerly known as UH II) |
IFRS Accounting Standards summarized financial information of TelevisaUnivision as of December 31, 2025 and 2024, respectively (amounts in thousands of U.S. dollars): | | | | | | | | | 2025 | | 2024 | Current assets (include cash and cash equivalents for U.S.$439,500 and U.S.$329,800, respectively) | | U.S.$ | 2,921,100 | | U.S.$ | 2,616,600 | Non-current assets | | | 13,440,900 | | | 13,160,000 | Total assets | | | 16,362,000 | | | 15,776,600 | Current liabilities (include debt and financial liabilities for U.S.$270,400 and U.S.$240,800, respectively) | | | 1,594,200 | | | 1,450,900 | Non-current liabilities (include debt and financial liabilities for U.S.$9,386,800 and U.S.$9,314,500 respectively) | | | 12,118,900 | | | 12,100,700 | Total liabilities | | | 13,713,100 | | | 13,551,600 | Total net assets | | U.S.$ | 2,648,900 | | U.S.$ | 2,225,000 |
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