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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 fQNuoVL1C5rHQsZRWomNow==

<SEC-DOCUMENT>0000895345-03-000011.txt : 20030107
<SEC-HEADER>0000895345-03-000011.hdr.sgml : 20030107
<ACCEPTANCE-DATETIME>20030107144710
ACCESSION NUMBER:		0000895345-03-000011
CONFORMED SUBMISSION TYPE:	S-8 POS
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20030107
EFFECTIVENESS DATE:		20030107

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GRUPO TELEVISA S A
		CENTRAL INDEX KEY:			0000912892
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEVISION BROADCASTING STATIONS [4833]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8 POS
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-102256
		FILM NUMBER:		03506437

	BUSINESS ADDRESS:	
		STREET 1:		AVENIDA CHAPULTEPEC NO 28
		CITY:			06724 MEXICO DF MEXI
		STATE:			O5
		ZIP:			00000

	MAIL ADDRESS:	
		STREET 1:		AVENIDA CHAPULTEPEC NO. 28
		STREET 2:		COLONIA DOCTORES

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GRUPO TELEVISA S A DE CV
		DATE OF NAME CHANGE:	19931001
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8 POS
<SEQUENCE>1
<FILENAME>krs8_grupo.txt
<TEXT>
AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JANUARY 7, 2003.
                                               REGISTRATION NO.: 333-102256
===========================================================================
                     SECURITIES AND EXCHANGE COMMISSION
                           WASHINGTON, D.C. 20549

                               -------------
                     POST-EFFECTIVE AMENDMENT NO. 1 TO
                                  FORM S-8
                           REGISTRATION STATEMENT
                                   UNDER
                         THE SECURITIES ACT OF 1933

                               -------------

                            GRUPO TELEVISA, S.A.
           (Exact name of Registrant as specified in its charter)

      UNITED MEXICAN STATES                                      NONE
         (State or other                                   (I.R.S. Employer
          jurisdiction                                   Identification No.)
 of incorporation or organization)

                         ------------------------

   AV. VASCO DE QUIROGA, NO. 2000                   DONALD J. PUGLISI
          COLONIA SANTA FE                        PUGLISI & ASSOCIATES
         01210 MEXICO, D.F.                   850 LIBRARY STREET, SUITE 204
               MEXICO                                 P.O. BOX 885
         (52) (555) 261-2000                     NEWARK, DELAWARE 19715
  (Address and telephone number of                   (302) 738-6680
       Registrant's principal                 (Name, address and telephone
      executive offices) (Zip Code)            number of agent for service

                         ------------------------

                   GRUPO TELEVISA, S.A. STOCK OPTION PLAN
                          (Full Title of the Plan)

                         ------------------------

                                 COPIES TO:
          JOSEPH A. STERN, ESQ.                  JUAN SEBASTIAN MIJARES ORTEGA
           KENNETH ROSH, ESQ.                        GRUPO TELEVISA, S.A.
FRIED, FRANK, HARRIS, SHRIVER & JACOBSON      AVENIDA VASCO DE QUIROGA, NO. 2000
           ONE NEW YORK PLAZA                         01210 MEXICO, D.F.
        NEW YORK, NEW YORK 10004                            MEXICO
             (212) 859-8000                         (52) (555) 261-2000

                         ------------------------

<TABLE>
<CAPTION>

                              CALCULATION OF REGISTRATION FEE
===========================================================================================
                                 AMOUNT       PROPOSED     PROPOSED MAXIMUM    AMOUNT
                                 TO BE         MAXIMUM        AGGREGATE          OF
    TITLE OF EACH CLASS OF     REGISTERED  OFFERING PRICE   OFFERING PRICE   REGISTRATION
  SECURITIES TO BE REGISTERED     (1)      PER UNIT (1)(2)      (1)(2)          FEE
- -------------------------------------------------------------------------------------------
<S>                                <C>          <C>           <C>                <C>
Series A Shares, without par
value (3)(4)................       1,850,000    $29.04        $53,724,000.00      $4,943.00
Series L Shares, without par
value (3)(4)................       1,450,000    $29.04        $42,108,000.00      $3,874.00
Series D Shares, without par
value (3)(4) ...............       1,450,000    $29.04        $42,108,000.00      $3,874.00
- -------------------------------------------------------------------------------------------
Total.......................       4,750,000                                     $12,691.00
===========================================================================================

(1)   This represents (i) the maximum aggregate projected amount of
      securities issuable under the Grupo Televisa, S.A. Stock Option Plan
      through December 31, 2008 and (ii) such indeterminate amount
      of securities that may be issued pursuant to the Grupo Televisa, S.A.
      Stock Option Plan in the event of a stock dividend, stock split,
      recapitalization or other similar event.
(2)   Estimated solely for the purpose of calculating the registration fee
      pursuant to Rules 457(c) and (h) under the Securities Act, based on
      the average of the high and low prices of the Registrant's Global
      Depositary Shares ("GDSs") on the New York Stock Exchange on December
      23, 2002.
(3)   Ordinary Participation Certificates ("CPOs"), each representing
      financial interests in, and limited voting rights with respect to,
      one Series A Share, one Series L Share and one Series D Share
      issuable upon deposit of the Series A Shares, Series L Shares and
      Series D Shares registered hereby have been registered under a
      separate registration statement on Form F-6 (Registration No.
      33-71810). GDSs evidenced by Global Depositary Receipts issuable upon
      deposit of such CPOs have also been registered under the same
      registration statement on Form F-6. Each GDS represents twenty CPOs.

(4)   All of the Series A Shares, Series L Shares and Series D Shares
      registered pursuant to this registration statement on Form S-8 have
      been or will be issued in the form of CPOs.

</TABLE>
===========================================================================

<PAGE>


                             TABLE OF CONTENTS


                                                                          PAGE
                                                                          ----

PART II

Item 8.  Exhibits............................................................3


<PAGE>

                                  PART II


             INFORMATION REQUIRED IN THE REGISTRATION STATEMENT


ITEM 8.  EXHIBITS.

    EXHIBIT NUMBER               DESCRIPTION OF EXHIBITS
    --------------               -----------------------

          4.1 --  Amended and Restated Bylaws (Estatutos Sociales) of the
                  Registrant, dated as of April 30, 2002, including a
                  translation into English (previously filed with the
                  Securities and Exchange Commission as an Exhibit to the
                  Registrant's Annual Report on Form 20-F for the year
                  ended December 31, 2001 and incorporated herein by
                  reference).

          5.1 --  Opinion of Mijares, Angoitia, Cortes y Fuentes, S.C. as
                  to the legality of the CPOs and the Series A Shares, the
                  Series L Shares and the Series D Shares underlying such
                  CPOs.*

          23.1 -- Consents of PricewaterhouseCoopers.**

          23.2 -- Consent of Mijares, Angoitia, Cortes y Fuentes, S.C.
                  (included in Exhibit 5.1).*

          24.1 -- Power of Attorney is included in the signature pages to
                  the Registration Statement, dated December 30, 2002.**

          *       This supersedes and replaces the original opinion and
                  consent of Mijares, Angoitia, Cortes y Fuentes, S.C.
                  which were filed in connection with the Registration
                  Statement, dated December 30, 2002.

         **       Filed previously.
<PAGE>

                                 SIGNATURES


     The Registrant. Pursuant to the requirements of the Securities Act of
1933, the Registrant certifies that it has reasonable grounds to believe
that it meets all of the requirements for filing on Form S-8 and has duly
caused this Post-Effective Amendment No. 1 to the Registration Statement on
Form S-8 to be signed on its behalf by the undersigned, thereunto duly
authorized, in Mexico City, Mexico on January 7, 2003.

                                   GRUPO TELEVISA, S.A.



                                    By:  /s/Rafael Carabias Principe
                                        ---------------------------------------
                                        Name:  Rafael Carabias Principe
                                        Title: Vice President of Administration



                                    By:  /s/Jorge Lutteroth Echegoyen
                                        ---------------------------------------
                                         Name:  Jorge Lutteroth Echegoyen
                                         Title: Controller and Vice President

     Pursuant to the requirements of the Securities Act of 1933, this
Post-Effective Amendment No. 1 to the Registration Statement has been
signed by the following persons in the capacities and on the date first
above indicated:


         SIGNATURE                            TITLE


   /s/Emilio Azcarraga Jean            Director,   Chairman   of   the   Board,
   ---------------------------------   President and Chief Executive Officer
   Emilio Azcarraga Jean


   /s/Maria Asuncion Aramburuzabala
         Larregui
   ---------------------------------   Director and Vice Chairwoman of the Board
   Maria Asuncion Aramburuzabala
         Larregui


   /s/ Juan Abello Gallo
   ---------------------------------   Director
          Juan Abello Gallo



   /s/Alfonso de Angoitia Noriega
   ---------------------------------   Director,  Executive  Vice President and
      Alfonso de Angoitia Noriega      Chief Financial Officer


   /s/Julio Barba Hurtado
   ---------------------------------   Director
         Julio Barba Hurtado


   /s/Jose Antonio Baston Patino
   ---------------------------------   Director
      Jose Antonio Baston Patino


   /s/Ana Patricia Botin O'Shea
   ---------------------------------   Director
      Ana Patricia Botin O'Shea


   /s/Manuel Jorge Cutillas Covani
   ---------------------------------   Director
     Manuel Jorge Cutillas Covani


   /s/Jaime Davila Urcullu
   ---------------------------------   Director
         Jaime Davila Urcullu


   /s/Carlos Fernandez Gonzalez
   ---------------------------------   Director
      Carlos Fernandez Gonzalez


   /s/Bernardo Gomez Martinez
   ---------------------------------   Director
       Bernardo Gomez Martinez


   /s/Claudio X. Gonzalez Laporte
   ---------------------------------   Director
      Claudio X. Gonzalez Laporte


   /s/Roberto Hernandez Ramirez
   ---------------------------------   Director
      Roberto Hernandez Ramirez


   /s/Enrique Krauze Kleinbort
   ---------------------------------   Director
       Enrique Krauze Kleinbort



   ---------------------------------   Director
      German Larrea Mota Velasco


   /s/Jorge Lutteroth Echegoyen
   ---------------------------------   Controller
       Jorge Lutteroth Echegoyen


   /s/Gilberto Perezalonso Cifuentes
   ---------------------------------   Director
    Gilberto Perezalonso Cifuentes


   /s/Alejandro Quintero Iniguez
   ---------------------------------   Director
     Alejandro Quintero Iniguez



   ---------------------------------   Director
     Fernando Senderos Mestre


   /s/Enrique F. Senior Hernandez
   ---------------------------------   Director
      Enrique F. Senior Hernandez


   /s/Lorenzo H. Zambrano Trevino
   ---------------------------------   Director
      Lorenzo H. Zambrano Trevino


<PAGE>


                   SIGNATURE OF AUTHORIZED REPRESENTATIVE

     Pursuant to the requirements of the Securities Act of 1933, the
undersigned, the duly authorized representative in the United States of
Grupo Televisa, S.A., has signed this Post-Effective Amendment No. 1 to the
Registration Statement on Form S-8 in the City of Newark, State of Delaware
on January 7, 2003.


         SIGNATURE                            TITLE


   /s/Donald J. Puglisi
   ---------------------------------   Authorized Representative in the United
     Donald J. Puglisi                 States




</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>exhibit5_1.txt
<DESCRIPTION>LETTER
<TEXT>
Exhibit 5.1

                             [MACyF LETTERHEAD]




                                               January 7, 2003

GRUPO TELEVISA, S.A.
Av. Vasco de Quiroga No. 2000
Colonia Santa Fe
01210 Mexico, D.F.


Ladies and Gentlemen:

     We are  acting as  Mexican  counsel  for  Grupo  Televisa,  S.A.  (the
"Company"),  a  limited  liability  stock  corporation  (sociedad  anonima)
organized  under  the  laws of the  United  Mexican  States  ("Mexico")  in
connection with its registration  statement on Form S-8 (the  "Registration
Statement") to register under the United States  Securities Act of 1933, as
amended,  certain  Series  "A"  shares,  Series  "L"  shares and Series "D"
shares,  which  have  been  issued  in the form of  ordinary  participation
certificates  (certificados  de  participacion  ordinarios)  ("CPOs"),  and
certain  additional  Series "A" shares of the capital  stock of the Company
(the "A Shares").  Each of the CPOs has been issued by Nacional Financiera,
S.N.C. (the "Trustee"), as trustee for a Mexican trust. Each CPO represents
financial  interests  in, and limited  voting  rights with  respect to, one
Series A Share,  one Series L Share and one  Series D Share of the  Company
(referred to collectively and together with the A Shares, as the "Shares").

     We  have  examined  the   originals,   or   certified,   conformed  or
reproduction copies, of all records, agreements,  instruments and documents
as we have  deemed  relevant  or  necessary  as the basis for the  opinions
hereinafter  expressed.  In all  such  examinations,  we have  assumed  the
genuineness  of all copies  submitted to us as  conformed  or  reproduction
copies. As to various questions of fact relevant to such opinions,  we have
relied  upon   statements   or   certificates   of  public   officials   or
representatives of the Company.

     We express no  opinion as to the laws of any  jurisdiction  other than
Mexico.

     Based upon and subject to the foregoing, we are of the opinion that:

     1.   The Company has been duly organized and is validly  existing as a
          limited liability stock corporation  (sociedad anonima) under the
          laws of Mexico.

     2.   The   Shares   have  been   validly   issued,   fully   paid  and
          non-assessable.

     3.   The CPOs have been  validly  issued by the  Trustee and are fully
          paid and non-assessable.

     We hereby  consent to the filing of this opinion as Exhibit 5.1 to the
Registration Statement.

     The opinion expressed herein is solely for your benefit and may not be
relied  upon  in any  manner  or for any  purpose  except  as  specifically
provided  for  herein  (other  than by  Fried,  Frank,  Harris,  Shriver  &
Jacobson,  the  Company's  New York  counsel)  without  our  prior  written
consent.

                                                Sincerely,

                                Mijares, Angoitia, Cortes y Fuentes, S.C.


                                /s/ Ricardo Maldonado Yanez
                                ---------------------------------
                                By: Ricardo Maldonado Yanez

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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