Televisa shareholders, starting with Emilio Azcárraga Jean, are in mourning. And it is no wonder after learning of the company’s disastrous financial results in the third quarter, where they report severe losses, a loss of subscribers from IZZI and SKY, and an enormous loss of company value.
8 years ago, the television station was worth 22 billion dollars, experts say, and today it does not reach 1.3 billion dollars, that is, it has lost 95% of its value. There are serious analysis exercises that indicate that the company will be in severe financial stress in the next two years. If the company continues on that path, they add, one day not too distant they will “cafete” it.
Obviously, Emilio is very concerned about the performance of the business that his father, “El Tigre”, inherited from him, and is seriously thinking about getting rid of those who brought him to this critical point: Bernardo Gómez and Alfonso de Angoitia who saved Televisa of the stock and financial crisis in which Emilio Azcárraga Milmo left it in 1997, the year he died. The paradoxical thing about the matter is that two and a half decades later, the saviors of Televisa became its “undertakers.”
A brief account of the facts: Given Azcárraga Jean’s inexperience that year, both executives Bernardo and Alfonso took charge of the business; They negotiated the television station’s debts, they got Guillermo Cañedo, José Antonio Cañedo White and others who abused the circumstances to resell to Emilito a package of shares that “El Tigre” had “generously” given them for their services rendered. With Vicente Fox, Felipe Calderón and Enrique Peña Nieto, the television station lived its “golden era” due to the significant profits, perks from those governments, others say, that it generated. However, with the passage of time they were insufficient to compensate for the expiration of their business model, which was not modernized, due to opposing incentives between what was best for the company and its shareholders and what was most convenient for Gómez and De Angoitia, who clung to preserving the can. And they continue to hold on despite the financial and prestige catastrophe of Televisa and Emilio Azcárraga Jean.
But not only that, Gómez jumped from the world of entertainment to politics, after having negotiated the official times with Martha Sahagún. For Peña Nieto, not only did they build his candidacy for the presidency of the Republic as governor of the State of Mexico, but she played the role of Celestina, as important figures have stated.
Gómez and de Angoitia managed the business as they pleased under the complacent gaze of good Emilio. But with that ambition that characterizes them, they began to make bad decisions. As a lifeline, Televisa was created, but this joint venture did not add any added value. That is why the market ended up punishing Televisa, and will continue to do so until it renews its administration with a professional and not a “buddy”, and takes measures that effectively generate results.
Before, they had started an adventure with IZZI, where they have also done “from the bottom”, according to the financial report of the last quarter, and the same thing happened to them with Sky; In both cases, the loss of subscribers made shareholders’ hair stand on end.
To try to compete with other platforms, they created VIX, where, their detractors say, the perfect crimes are committed because almost no one sees it. The version circulates in the media that NETFLIX offered Emilio a merger, association or something similar, in exchange for a shareholding, but Bernardo Gómez advised him not to accept because, they say, he could become a “mouse tail” and not “tiger head”. The reality was, according to those in the know, that it was not convenient for “Berny”, as his friends call him, because he was going to lose control and other things. NENTFLIX has a market value of 200 billion dollars, while that of Televisa is 1.3 billion of the same bills, experts emphasize.
And while Televisa is torn between life and death, the aforementioned executives continue organizing “crazy” weddings, baptisms, quinceaneras, first communions, according to the jet-setting reporters. A few weeks ago Angoitia’s son got married, and they obviously “went all out,” obviously “saddened” by the drop in the value of Televisa.
In light of the financial disaster at Televisa, the shareholders are half pissed off, sorry, dissatisfied, and those in the know say that Emilio Azcárraga Jean has gotten deeply involved in the business, and is thinking about putting Bernardo Gómez and Alfonso de Angoitia aside . Be?
As part of its strategy to acquire the PUGA Mill, the Zucarmex Group, led by architect Eduardo De la Vega, is “corning” the workers who have been on strike for more than a year and who do not even have enough to eat. The columnist learned that, just as the Federal government distributes groceries and money to those affected by Hurricane “Otis” in Guerrero, executives of the aforementioned sugar consortium replicate that scheme with the mill workers, with the complacency of the leader of the national union, Lorenzo Pale. Well, who knows what they offered this one.
It is also said that Grupo Azucarero México (GAM), of Juan Cortina Gallardo, whose main promoter to take over the aforementioned mill is the governor of Nayarit, Miguel Ángel Navarro Quintero, promised the workers that he would pay them 50% of their salaries. fallen immediately, so that they have a “white Christmas” and the rest in January, if they vote for the consortium to own the sugar factory.
However, neither Zucarmex nor GAM have
posed what they are going to do with fifty creditors of the Copaco marketing company and the Puga mill, both owned by Oscar García Arces, who owes them 5 billion pesos. It’s like they haven’t figured out what to do! Some exclaim. The creditors (Bimbo, Lala, Danone, Sucroliq, Banco Santander… have already been told that they are going to pay their debts at 10 cents, although they are doing well.