Investments in Associates and Joint Ventures (Tables)

12 Months Ended

Dec. 31, 2024

Disclosure of Associates And Joint Ventures [Line Items]

Schedule of investments in associates and joint ventures accounted for by the equity method


		Ownership as of
		December 31,
		2024		2023		2024			2023
Associates:
TelevisaUnivision and subsidiaries		43.0	%	43.7	%	Ps.	43,220,986		Ps.	42,326,344
Other							63,658			50,277
Joint ventures:
Grupo de Telecomunicaciones de Alta Capacidad, S.A.P.I. de C.V. and subsidiaries (collectively “GTAC”)⁽¹⁾		33.3	%	33.3	%		952,721			844,728
Periódico Digital Sendero, S.A.P.I. de C.V. and subsidiary (collectively, “PDS”) ⁽²⁾		50.0	%	50.0	%		199,332			206,289
						Ps.	44,436,697		Ps.	43,427,638

(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.1,527,898, 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 2025 and 2034. During the years ended December 31, 2024 and 2023, GTAC paid principal and interest to the Group in connection with these long-term loans in the aggregate principal amount of Ps.183,031 and Ps.178,914, respectively. The net investment in GTAC as of December 31, 2024 and 2023, included amounts receivable in connection with these long-term loans to GTAC in the aggregate amount of Ps.1,024,371 and Ps.948,549, 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, 2024 and 2023, the Group’s investment in PDS included intangible assets and goodwill in the aggregate amount of Ps.113,837.

Schedule of roll forward of investments in associates and joint ventures


		2024			2023
At January 1		Ps.	43,427,638		Ps.	50,450,949
Share of loss of associates and joint ventures, net			(960,415)			(4,803,533)
Share of other comprehensive income of associates			(7,061,676)			4,278,531
Long-term loans granted to GTAC, net			128,881			155,062
Foreign currency translation adjustments			8,946,557			(6,585,695)
GTAC payments of principal and interest			(183,031)			(178,914)
Dividends from PDS			(10,000)			(8,000)
Investment in other associate			18,770			—
Other			129,973			119,238
At December 31		Ps.	44,436,697		Ps.	43,427,638

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, 2024 and 2023, respectively (amounts in thousands of U.S. dollars):


		2024			2023
Ownership as of December 31			43.0	%		43.7	%
Group’s share of net assets		U.S.$	955,705		U.S.$	1,384,364
Group’s share of net assets		Ps.	19,944,707		Ps.	23,440,738
Goodwill and other indefinite-lived intangible assets			7,624,454			6,186,231
Group’s investment in preferred shares			15,651,825			12,699,375
Carrying amount of the Group´s interest in TelevisaUnivision		Ps.	43,220,986		Ps.	42,326,344

IFRS summarized financial information of TelevisaUnivision for the years ended December 31, 2024, 2023 and 2022 (amounts in thousands of U.S. dollars):


		2024			2023			2022
Revenue		U.S.$	5,055,500		U.S.$	4,928,000		U.S.$	4,609,600
Depreciation and amortization			551,600			570,700			524,300
Finance income			212,200			100,300			11,400
Finance expense			791,600			752,400			652,600
Loss from continuing operations			(62,500)			(513,000)			(1,203,200)
Income tax expense			(31,400)			(129,200)			(232,400)
Net loss			(93,900)			(642,200)			(1,435,600)
Other comprehensive (loss) income			(883,900)			535,400			471,113
Total comprehensive loss			(977,800)			(106,800)			(964,487)
Preferred dividends received from TelevisaUnivision			41,250			41,250			37,812

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, 2024, 2023 and 2022 (amounts in thousands of U.S. dollars):


		2024			2023			2022
Net loss		U.S.$	(40,333)		U.S.$	(280,533)		U.S.$	(637,955)
Other comprehensive (loss) income			(379,662)			233,880			209,354

Net loss		Ps.	(838,874)		Ps.	(4,940,904)		Ps.	(12,555,817)
Other comprehensive (loss) income			(7,061,645)			4,278,446			4,245,660
Purchase price allocation and other adjustments:
Net (loss) income adjustments			(151,397)			128,148			3,790,887
Group’s interest in TelevisaUnivision:
Net loss			(990,271)			(4,812,756)			(8,764,930)
Other comprehensive (loss) income			(7,061,645)			4,278,446			4,245,660
Reversal of impairment			—			—			593,838

Schedule of combined condensed balance sheet information related to the Group's share in associates other than TelevisaUnivision (formerly known as UH II)


		2024			2023
Current assets		Ps.	17,847		Ps.	17,809
Non-current assets			43,983			47,657
Total assets			61,830			65,466
Current liabilities			13,849			12,487
Non-current liabilities			26,095			25,704
Total liabilities			39,944			38,191
Net assets		Ps.	21,886		Ps.	27,275
Goodwill, purchase price allocation and other adjustments			41,772			23,002
Carrying amount of the Group’s interest in associates		Ps.	63,658		Ps.	50,277


		2024			2023
Current assets		Ps.	175,520		Ps.	178,846
Non-current assets			1,065,472			937,841
Total assets			1,240,992			1,116,687
Current liabilities			56,799			96,005
Non-current liabilities			1,170,348			1,032,051
Total liabilities			1,227,147			1,128,056
Net assets (liabilities)		Ps.	13,845		Ps.	(11,369)
Goodwill, purchase price allocation and other adjustments			113,837			113,837
Long-term loans granted to GTAC, net			1,024,371			948,549
Carrying amount of the Group´s interest in joint ventures		Ps.	1,152,053		Ps.	1,051,017

Schedule of share of comprehensive income (loss) of associates and joint ventures other than TelevisaUnivision (formerly known as UH II)


		2024			2023			2022
Share of income of associates and joint ventures, net		Ps.	29,856		Ps.	9,223		Ps.	40,287
Share of other comprehensive income of associates and joint ventures:
Other items of comprehensive (loss) income, net			(31)			85			(114)
			(31)			85			(114)
Share of comprehensive income of associates and joint ventures		Ps.	29,825		Ps.	9,308		Ps.	40,173

TelevisaUnivision

Disclosure of Associates And Joint Ventures [Line Items]

Schedule of combined condensed balance sheet information related to the Group's share in associates other than TelevisaUnivision (formerly known as UH II)

IFRS summarized financial information of TelevisaUnivision as of December 31, 2024 and 2023, respectively (amounts in thousands of U.S. dollars):


		2024			2023
Current assets (include cash and cash equivalents for U.S.$329,800 and U.S.$220,900, respectively)		U.S.$	2,616,600		U.S.$	2,751,600
Non-current assets			13,160,000			15,426,900
Total assets			15,776,600			18,178,500
Current liabilities (include financial liabilities for U.S.$53,100 and U.S.$46,200, respectively)			1,450,900			1,780,400
Non-current liabilities (include financial liabilities for U.S.$308,100 and U.S.$479,900, respectively)			12,100,700			13,229,000
Total liabilities			13,551,600			15,009,400
Total net assets		U.S.$	2,225,000		U.S.$	3,169,100