Carlos Slim Exerts His Power as Televisa Suffers
The world’s largest Spanish-language broadcaster Televisa (TV) has seen its stock slide consistently over the last two weeks -- to its lowest level in three months -- as investors appear anxious over the company’s second-quarter earnings. Profits were at just over $150 million in the second-quarter matching the same period in 2010 though on sales growth of 4.7%. Broadcast sales fell 5.9% as a row with the world’s richest man Carlos Slim led him to pull all advertising. Slim’s companies played a huge part in Televisa’s broadcast sales representing 3.8% in 2010. The fall was even offset by a rise ...
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