<SEC-DOCUMENT>0000895345-20-000592.txt : 20200428
<SEC-HEADER>0000895345-20-000592.hdr.sgml : 20200428
<ACCEPTANCE-DATETIME>20200428170123
ACCESSION NUMBER:		0000895345-20-000592
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200427
FILED AS OF DATE:		20200428
DATE AS OF CHANGE:		20200428

FILER:

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

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12610
		FILM NUMBER:		20825930

	BUSINESS ADDRESS:	
		STREET 1:		AV VASCO DE QUIROGA 2000
		STREET 2:		COLONIA SANTA FE
		CITY:			MEXICO, D.F.
		STATE:			O5
		ZIP:			01210
		BUSINESS PHONE:		(5255) 52612000

	MAIL ADDRESS:	
		STREET 1:		AV VASCO DE QUIROGA 2000
		STREET 2:		COLONIA SANTA FE
		CITY:			MEXICO, D.F.
		STATE:			O5
		ZIP:			01210

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GRUPO TELEVISA S A
		DATE OF NAME CHANGE:	19931202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GRUPO TELEVISA S A DE CV
		DATE OF NAME CHANGE:	19931001
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>jw6k1qfinanshort_grupo.htm
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  <div style="text-align: center; margin-top: 4pt; font-family: 'Times New Roman',Times,serif;"><font style="font-size: 18pt; font-weight: bold;">UNITED STATES</font></div>
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  <div style="text-align: center; margin-top: 12pt; font-family: 'Times New Roman',Times,serif;"><font style="font-weight: bold;">REPORT OF FOREIGN ISSUER</font></div>
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  <div style="text-align: center; font-family: 'Times New Roman',Times,serif;"><font style="font-weight: bold;">PURSUANT TO RULES 13a-16 OR 15d-16</font></div>
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  <div style="text-align: center; margin-top: 12pt; margin-bottom: 10pt; font-family: 'Times New Roman',Times,serif;"><font style="font-weight: bold;">For the month of April, 2020</font></div>
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  <div style="text-align: center; margin-top: 12pt; font-family: 'Times New Roman',Times,serif;"><font style="font-size: 24pt; font-weight: bold;">GRUPO TELEVISA, S.A.B.</font></div>
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  <div style="text-align: center; margin-top: 12pt; font-family: 'Times New Roman',Times,serif;"><font style="font-weight: bold;">Av. Vasco de Quiroga No. 2000, Colonia Santa Fe 01210 Mexico City, Mexico</font></div>
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    <div style="margin-bottom: 10pt; font-family: Arial; font-size: 14pt; font-weight: bold;">Televisa Reports First Quarter 2020 Results</div>
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                  <div style="margin-bottom: 10pt; font-family: Arial;">Revenues reached Ps.23.2 billion and the Operating Segment Income (&#8220;OSI&#8221;) margin reached 35.2%</div>
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                    <div style="line-height: 11.4pt; margin-bottom: 10pt; font-family: 'Times New Roman', serif;">
                      <div style="margin-bottom: 10pt; font-family: Arial;">Net loss was Ps.8.9 billion primarily due to impact of the Mexican peso depreciation and the adjustment in the carrying value of our interest in Univision</div>
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                      <div style="margin-bottom: 10pt; font-family: Arial;">As of March 31, 2020, a strong liquid position of Ps.54.8 billion. The average maturity of our debt is 15.8 years</div>
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    <div style="margin-bottom: 6pt; font-family: Arial;"><font style="font-weight: bold;">&#160;Cable</font></div>
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                  <div style="margin-bottom: 10pt; font-family: Arial;">Strong momentum in Cable with revenues up 9.4% after adding 256 thousand Revenue Generating Units (&#8220;RGUs&#8221;)</div>
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                  <div style="margin-bottom: 10pt; font-family: Arial;">Fastest pace of organic growth in broadband RGUs in seven quarters, reaching 4.8 million</div>
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                  <div style="line-height: 11.4pt; margin-bottom: 10pt; font-family: 'Times New Roman', serif;">
                    <div style="margin-bottom: 10pt; font-family: Arial;">OSI remained strong, reaching Ps.4.5 billion and a margin of 41.5%</div>
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    <div> <font style="font-weight: bold; font-family: Arial;">Sky</font></div>
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                  <div style="margin-bottom: 10pt; font-family: Arial;">Revenues were up 2.3%, the fastest pace of growth in three years</div>
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            <div style="text-align: left; margin-left: 18pt; margin-bottom: 6pt; font-family: Arial;">&#9679;</div>
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                  <div style="margin-bottom: 10pt; font-family: Arial;">Added 8 thousand video RGUs, the fourth consecutive quarter of adding video customers</div>
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                    <div style="margin-bottom: 10pt; font-family: Arial;">OSI remained strong, reaching Ps.2.2 billion and a margin of 41.3%</div>
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    <font style="font-weight: bold; font-family: Arial;">Content</font></div>
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                  <div style="margin-bottom: 10pt; font-family: Arial;">Revenues were down 6.4% and OSI margin reached 24%</div>
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                  <div style="margin-bottom: 10pt; font-family: Arial;">The drop in Advertising Sales was partially compensated by an increase in Licensing and Syndication Revenue</div>
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        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 6pt; width: 100%;" class="DSPFListTable">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="text-align: left; margin-left: 18pt; margin-bottom: 6pt; font-family: Arial;">&#9679;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; margin-bottom: 6pt;">
                  <div style="text-align: left; line-height: 12.55pt; margin-bottom: 10pt;">
                    <div style="line-height: 12.55pt; margin-bottom: 10pt;">
                      <div style="line-height: 11.4pt; margin-bottom: 10pt; font-family: 'Times New Roman', serif;">
                        <div style="margin-bottom: 10pt; font-family: Arial;">Strong results of Univision resulted in royalties growing 10.9% reaching U.S.$97.6 million</div>
                      </div>
                    </div>
                  </div>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div> </div>
      <div> </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 6pt; width: 100%;" class="DSPFListTable">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="text-align: left; margin-left: 18pt; margin-bottom: 6pt; font-family: Arial;">&#9679;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; margin-bottom: 6pt;">
                  <div style="text-align: left; line-height: 12.55pt; margin-bottom: 10pt;">
                    <div style="line-height: 12.55pt; margin-bottom: 10pt;">
                      <div style="line-height: 11.4pt; margin-bottom: 10pt; font-family: 'Times New Roman', serif;">
                        <div style="margin-bottom: 10pt; font-family: Arial;">Broadcasted 18 of the top 20 programs during weekdays on Mexican television</div>
                      </div>
                    </div>
                  </div>
                </div>
              </td>
            </tr>

        </table>
        <div><font style="font-family: Arial;"><br>
          </font> </div>
      </div>
    </div>
    <div>
      <hr noshade="noshade" align="center" style="height: 2px; width: 100%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
  </div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="background-color: #FFFFFF;">
    <div style="text-align: center; line-height: 11.4pt; font-family: 'Times New Roman', serif; font-weight: bold;">
      <div style="margin-bottom: 10pt; font-family: Arial; font-weight: bold;">Earnings Call Date and Time: Tuesday, April 28, 2020, at 10:00 A.M. ET.</div>
    </div>
    <div style="line-height: 11.4pt; text-align: center;"><font style="font-family: Arial;"><br style="line-height: 11.4pt;">
      </font> </div>
    <div style="background-color: #FFFFFF; line-height: 14.4pt;">
      <div style="text-align: center; line-height: 11.4pt; font-family: Arial;">Conference ID # is 1437399</div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z66e9085fd5d3403d96665e932afb7ab9">

        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="background-color: #FFFFFF; line-height: 14.4pt;">
              <div style="text-align: center; line-height: 11.4pt; font-family: Arial;">From the U.S.: +1 (877) 850 2115</div>
            </div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="background-color: #FFFFFF; line-height: 14.4pt;">
              <div style="text-align: center; line-height: 11.4pt; font-family: Arial;">From Mexico: 800 926 9157</div>
            </div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="background-color: #FFFFFF; line-height: 14.4pt;">
              <div style="text-align: center; line-height: 11.4pt; font-family: Arial;">International callers: +1 (478) 219 0648</div>
            </div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="background-color: #FFFFFF; line-height: 14.4pt;">
              <div style="text-align: center; line-height: 11.4pt; font-family: Arial;">Rebroadcast: +1 (404) 537-3406</div>
            </div>
          </td>
        </tr>

    </table>
    <div style="background-color: #FFFFFF; line-height: 14.4pt;">
      <div style="line-height: 11.4pt;"><font style="font-family: Arial;"><br style="line-height: 11.4pt;">
        </font> </div>
      <div style="background-color: #FFFFFF;">
        <div style="text-align: center; font-family: Arial;">The teleconference will be rebroadcast starting at 13:00 ET on April 28 through midnight on May 12.</div>
      </div>
    </div>
    <div style="line-height: 11.4pt;"><font style="font-family: Arial;"><br style="line-height: 11.4pt;">
      </font> </div>
    <font style="font-family: Arial;"><br>
    </font>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: right;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-weight: normal; font-style: normal;">1</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
  </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: center; font-family: Arial;"><font style="font-size: 14pt; font-weight: bold;">Consolidated Results</font></div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
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    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify;"><font style="font-weight: bold; font-family: Arial;">Mexico City, April 27, 2020</font><font style="font-family: Arial;"> &#8212; Grupo Televisa, S.A.B. (NYSE:TV; BMV: TLEVISA CPO; &#8220;Televisa&#8221; or &#8220;the Company&#8221;), today announced
      results for first-quarter 2020. The results have been prepared in accordance with International Financial Reporting Standards (&#8220;IFRS&#8221;).</font></div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; font-family: Arial;">The following table sets forth condensed consolidated statements of income for the quarters ended March 31, 2020 and 2019, in millions of Mexican pesos:</div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify;"> <font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify;">
    <table cellspacing="0" cellpadding="0" id="ze1f9fc573bd9427884269de9b9c31795" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 48.32%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" rowspan="2">
            <div style="font-weight: bold; font-family: Arial;">&#160;</div>
          </td>
          <td style="width: 9.07%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);" rowspan="2">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">1Q&#8217;20</div>
          </td>
          <td style="width: 11.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">Margin</div>
          </td>
          <td style="width: 11.11%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);" rowspan="2">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">1Q&#8217;19</div>
          </td>
          <td style="width: 9.26%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">Margin</div>
          </td>
          <td style="width: 11.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">Change</div>
          </td>
        </tr>
        <tr>
          <td style="width: 11.11%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">%</div>
          </td>
          <td style="width: 9.26%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">%</div>
          </td>
          <td style="width: 11.11%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">%</div>
          </td>
        </tr>
        <tr>
          <td style="width: 48.32%; vertical-align: middle; border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; font-family: Arial;">Net sales</div>
          </td>
          <td style="width: 9.07%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">23,228.8</div>
          </td>
          <td style="width: 11.11%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">100.0</div>
          </td>
          <td style="width: 11.11%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">23,395.2</div>
          </td>
          <td style="width: 9.26%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">100.0</div>
          </td>
          <td style="width: 11.11%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(0.7)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 48.32%; vertical-align: middle; border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; font-family: Arial;">Net (loss) income</div>
          </td>
          <td style="width: 9.07%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(8,903.7)</div>
          </td>
          <td style="width: 11.11%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(38.3)</div>
          </td>
          <td style="width: 11.11%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">858.1</div>
          </td>
          <td style="width: 9.26%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">3.7</div>
          </td>
          <td style="width: 11.11%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">n/a</div>
          </td>
        </tr>
        <tr>
          <td style="width: 48.32%; vertical-align: middle; border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; font-family: Arial;">Net (loss) income attributable to stockholders of the Company</div>
          </td>
          <td style="width: 9.07%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(9,651.9)</div>
          </td>
          <td style="width: 11.11%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(41.6)</div>
          </td>
          <td style="width: 11.11%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">541.7</div>
          </td>
          <td style="width: 9.26%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">2.3</div>
          </td>
          <td style="width: 11.11%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">n/a</div>
          </td>
        </tr>
        <tr>
          <td style="width: 48.32%; vertical-align: middle; border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; font-family: Arial;">Segment net sales</div>
          </td>
          <td style="width: 9.07%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">24,714.1</div>
          </td>
          <td style="width: 11.11%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">100.0</div>
          </td>
          <td style="width: 11.11%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">24,469.0</div>
          </td>
          <td style="width: 9.26%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">100.0</div>
          </td>
          <td style="width: 11.11%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">1.0</div>
          </td>
        </tr>
        <tr>
          <td style="width: 48.32%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; font-family: Arial;">Operating segment income <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
          </td>
          <td style="width: 9.07%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-family: Arial;">8,709.2</div>
          </td>
          <td style="width: 11.11%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-family: Arial;">35.2</div>
          </td>
          <td style="width: 11.11%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-family: Arial;">9,374.4</div>
          </td>
          <td style="width: 9.26%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-family: Arial;">38.3</div>
          </td>
          <td style="width: 11.11%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-family: Arial;">(7.1)</div>
          </td>
        </tr>

    </table>
  </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; line-height: 11.4pt; font-family: 'Times New Roman', serif;">
    <div style="line-height: 12.55pt;"> </div>
    <font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1) </sup>The operating segment income margin is calculated as a percentage of segment net sales. &#160;</font></div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; line-height: 11.4pt; font-family: 'Times New Roman', serif;"> <font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; line-height: 12.55pt;">
    <div style="font-family: Arial;">Net sales decreased by 0.7% to Ps.23,228.8 million in first-quarter 2020 compared with Ps.23,395.2 million in first-quarter 2019. This decrease was mainly attributable to a decline in Advertising sales. Operating
      segment income decreased by 7.1%, reaching Ps.8,709.2 million with a margin of 35.2%, mainly due to the decline in operating segment income of the Content segment.</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div style="margin-bottom: 10pt; font-family: Arial;">Net loss attributable to stockholders of the Company amounted to Ps.9,651.9 million in first-quarter 2020, compared with a net income of Ps.541.7 million in first-quarter 2019.</div>
    <div style="margin-bottom: 10pt; font-family: Arial;">The unfavorable change of Ps.10,193.6 million reflected:</div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z5b92d9cf985d4cd6a933ba0480fb1041" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt; font-family: Arial;">(i)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: Arial;">a Ps.6,433.5 million increase in finance expense, net, primarily as a result of the impact of the peso depreciation;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z43ea48ccfd7e4a17ab557a208e93120d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt; font-family: Arial;">(ii)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: Arial;">a Ps.5,514.4 million decrease in share of income or loss of associates and joint ventures, net, primarily due to the non-cash adjustment in the carrying value of our interest in Univision;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="za0d3d79a7fb34b0e9c3d03852d75fef8" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt; font-family: Arial;">(iii)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: Arial;">a Ps.582.1 million decrease in income before depreciation and amortization; and</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="ze6a9e7f663ad4631b77df34386459b6d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt; font-family: Arial;">(iv)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-indent: 0pt; font-family: Arial;">a Ps.431.8 million increase in net income attributable to non-controlling interests.</div>
            </td>
          </tr>

      </table>
    </div>
    <font style="font-family: Arial;"><br>
    </font>
    <div>
      <div style="margin-bottom: 10pt; font-family: Arial;">These unfavorable variances were partially offset by:</div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z77d6edba759c4083abee28c3f0d8261f">

            <tr>
              <td style="width: 72pt; vertical-align: top; align: right;">
                <div style="margin-left: 36pt; font-family: Arial;">(i)</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; font-family: Arial;">a Ps.2,229.9 million favorable change in income tax;</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7c1f8d2b765343f4932a8830628b01c4">

            <tr>
              <td style="width: 72pt; vertical-align: top; align: right;">
                <div style="margin-left: 36pt; font-family: Arial;">(ii)</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; font-family: Arial;">a Ps.473.8 million favorable change in other income or expense, net; and</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb14cb6940a82465291d87182ec400b49">

            <tr>
              <td style="width: 72pt; vertical-align: top; align: right;">
                <div style="margin-left: 36pt; font-family: Arial;">(iii)</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; font-family: Arial;">a Ps.64.5 million decrease in depreciation and amortization.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><font style="font-family: Arial;"><br>
        </font> </div>
    </div>
    <font style="font-family: Arial;"><br>
    </font>
    <div style="text-align: left; font-weight: bold; font-family: Arial;">Dividend</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div style="text-align: left; font-family: Arial;">To further maximize liquidity and as a precautionary measure, we propose to suspend our 2020 dividend, subject to approval of the Company&#8217;s stockholders.</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
  </div>
  <font style="font-family: Arial;"> <br>
  </font>
  <div style="text-align: center;">
    <div style="text-align: justify; margin-right: 2.15pt; line-height: 11.4pt; margin-bottom: 10pt; font-family: 'Times New Roman', serif;"> <font style="font-family: Arial;"><br>
      </font> </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: right;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-weight: normal; font-style: normal;">2</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <font style="font-family: Arial;"><br>
    </font>
    <div style="line-height: 11.4pt; font-family: 'Times New Roman',serif; font-size: 14pt; font-weight: bold;">
      <div style="margin-bottom: 10pt; font-family: Arial; font-size: 12pt; font-weight: bold;">First-quarter Results by Business Segment</div>
    </div>
    <div style="line-height: 11.4pt;"><font style="font-family: Arial;"><br style="line-height: 11.4pt;">
      </font> </div>
    <div style="text-align: justify; line-height: 11.4pt; font-family: 'Times New Roman', serif;">
      <div style="text-align: left; margin-bottom: 10pt; font-family: Arial;">The following table presents first-quarter consolidated results ended March 31, 2020 and 2019, for each of our business segments. Consolidated results for first-quarter 2020 and
        2019 are presented in millions of Mexican pesos.</div>
    </div>
  </div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font>
    <table cellspacing="0" cellpadding="0" border="0" align="center" id="ze869cc193cff4bedb1545b4645ef1005" style="width: 90%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">

        <tr>
          <td style="width: 46%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div style="margin-left: 4pt; font-style: italic; font-weight: bold; font-family: Arial;">Net Sales</div>
          </td>
          <td style="width: 12.09%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">1Q&#8217;20</div>
          </td>
          <td style="width: 9.95%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">%</div>
          </td>
          <td style="width: 12.07%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">1Q&#8217;19</div>
          </td>
          <td style="width: 9.95%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">&#160;%</div>
          </td>
          <td style="width: 9.95%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">Change</div>
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">%</div>
          </td>
        </tr>
        <tr>
          <td style="width: 46%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; margin-left: 4pt; font-family: Arial;">Cable</div>
          </td>
          <td style="width: 12.09%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">10,824.7</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">43.8</div>
          </td>
          <td style="width: 12.07%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">9,898.1</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">40.4</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">9.4</div>
          </td>
        </tr>
        <tr>
          <td style="width: 46%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; margin-left: 4pt; font-family: Arial;">Sky</div>
          </td>
          <td style="width: 12.09%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">5,405.3</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">21.9</div>
          </td>
          <td style="width: 12.07%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">5,281.6</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">21.6</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">2.3</div>
          </td>
        </tr>
        <tr>
          <td style="width: 46%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; margin-left: 4pt; font-family: Arial;">Content</div>
          </td>
          <td style="width: 12.09%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">6,727.6</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">27.2</div>
          </td>
          <td style="width: 12.07%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">7,184.9</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">29.4</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(6.4)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 46%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; margin-left: 4pt; font-family: Arial;">Other Businesses</div>
          </td>
          <td style="width: 12.09%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">1,756.5</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">7.1</div>
          </td>
          <td style="width: 12.07%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">2,104.4</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">8.6</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(16.5)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 46%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; margin-left: 4pt; font-weight: bold; font-family: Arial;">Segment Net Sales</div>
          </td>
          <td style="width: 12.09%; vertical-align: middle;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">24,714.1</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">100.0</div>
          </td>
          <td style="width: 12.07%; vertical-align: middle;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">24,469.0</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">100.0</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">1.0</div>
          </td>
        </tr>
        <tr>
          <td style="width: 46%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; margin-left: 4pt; font-family: Arial;">Intersegment Operations<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
          </td>
          <td style="width: 12.09%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(1,632.8)</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle; font-family: Arial;">&#160;</td>
          <td style="width: 12.07%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(1,229.7)</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle; font-family: Arial;">&#160;</td>
          <td style="width: 9.95%; vertical-align: middle; font-family: Arial;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 46%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; margin-left: 4pt; font-weight: bold; font-family: Arial;">Net Sales</div>
          </td>
          <td style="width: 12.09%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">23,081.3</div>
          </td>
          <td style="width: 9.95%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="font-family: Arial;">&#160;</div>
          </td>
          <td style="width: 12.07%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">23,239.3</div>
          </td>
          <td style="width: 9.95%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="font-family: Arial;">&#160;</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">(0.7)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 46%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; margin-left: 4pt; font-family: Arial;">Held-for-sale Operations<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#160;</sup><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup></div>
          </td>
          <td style="width: 12.09%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">147.5</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">n/a</div>
          </td>
          <td style="width: 12.07%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">155.9</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">n/a</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(5.4)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 46%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; margin-left: 4pt; font-weight: bold; font-family: Arial;">Net Sales</div>
          </td>
          <td style="width: 12.09%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">23,228.8</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">&#160;</div>
          </td>
          <td style="width: 12.07%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">23,395.2</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">&#160;</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">(0.7)</div>
          </td>
        </tr>

    </table>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <table cellspacing="0" cellpadding="0" border="0" align="center" id="z83e041f9e0ad43ac98787232011c99f8" style="width: 90%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">

        <tr>
          <td style="width: 45.99%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div style="font-style: italic; font-weight: bold; font-family: Arial;">Operating Segment Income<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup></div>
          </td>
          <td style="width: 12.08%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">1Q&#8217;20</div>
          </td>
          <td style="width: 9.95%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">Margin</div>
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">%</div>
          </td>
          <td style="width: 12.09%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">1Q&#8217;19</div>
          </td>
          <td style="width: 9.95%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">Margin</div>
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">%</div>
          </td>
          <td style="width: 9.95%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">Change</div>
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">%</div>
          </td>
        </tr>
        <tr>
          <td style="width: 45.99%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; margin-left: 3.55pt; font-family: Arial;">Cable</div>
          </td>
          <td style="width: 12.08%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">4,490.3</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">41.5</div>
          </td>
          <td style="width: 12.09%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">4,297.1</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">43.4</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">4.5</div>
          </td>
        </tr>
        <tr>
          <td style="width: 45.99%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; margin-left: 3.55pt; font-family: Arial;">Sky</div>
          </td>
          <td style="width: 12.08%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">2,234.0</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">41.3</div>
          </td>
          <td style="width: 12.09%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">2,306.9</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">43.7</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(3.2)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 45.99%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; margin-left: 3.55pt; font-family: Arial;">Content</div>
          </td>
          <td style="width: 12.08%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">1,613.9</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">24.0</div>
          </td>
          <td style="width: 12.09%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">2,267.3</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">31.6</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(28.8)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 45.99%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; margin-left: 3.55pt; font-family: Arial;">Other Businesses</div>
          </td>
          <td style="width: 12.08%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">371.0</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">21.1</div>
          </td>
          <td style="width: 12.09%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">503.1</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">23.9</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(26.3)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 45.99%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; margin-left: 3.55pt; font-weight: bold; font-family: Arial;">Operating Segment Income</div>
          </td>
          <td style="width: 12.08%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">8,709.2</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">35.2</div>
          </td>
          <td style="width: 12.09%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">9,374.4</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">38.3</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">(7.1)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 45.99%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; margin-left: 3.55pt; font-family: Arial;">Corporate Expenses</div>
          </td>
          <td style="width: 12.08%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(423.8)</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(1.7)</div>
          </td>
          <td style="width: 12.09%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(516.1)</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(2.1)</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">17.9</div>
          </td>
        </tr>
        <tr>
          <td style="width: 45.99%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; margin-left: 3.55pt; font-family: Arial;">Depreciation and Amortization</div>
          </td>
          <td style="width: 12.08%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(5,151.5)</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(22.2)</div>
          </td>
          <td style="width: 12.09%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(5,216.0)</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(22.3)</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">1.2</div>
          </td>
        </tr>
        <tr>
          <td style="width: 45.99%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; margin-left: 3.55pt; font-family: Arial;">Other Income (Expense), net</div>
          </td>
          <td style="width: 12.08%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">284.9</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">1.2</div>
          </td>
          <td style="width: 12.09%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(188.9)</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(0.8)</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">n/a</div>
          </td>
        </tr>
        <tr>
          <td style="width: 45.99%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; margin-left: 4pt; font-family: Arial;">Intersegment Operations<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">4</sup></div>
          </td>
          <td style="width: 12.08%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(17.8)</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">n/a</div>
          </td>
          <td style="width: 12.09%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(15.0)</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">n/a</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(18.7)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 45.99%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; margin-left: 4pt; font-family: Arial;">Held-for-sale Operations<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#160;</sup><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup></div>
          </td>
          <td style="width: 12.08%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">25.6</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">n/a</div>
          </td>
          <td style="width: 12.09%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">32.0</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">n/a</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(20.0)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 45.99%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; margin-left: 3.55pt; font-weight: bold; font-family: Arial;">Operating Income</div>
          </td>
          <td style="width: 12.08%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">3,426.6</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">14.8</div>
          </td>
          <td style="width: 12.09%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">3,470.4</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">14.8</div>
          </td>
          <td style="width: 9.95%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">(1.3)</div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify; margin-right: 22.5pt; margin-left: 28.35pt; font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> For segment reporting purposes, intersegment operations are included in each of the segment operations.</div>
    <div style="text-align: justify; margin-right: 22.5pt; margin-left: 28.35pt; font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup> The assets and related liabilities of the Radio business are classified as held for sale in the Company&#8217;s consolidated statement of financial
      position as of March 31, 2020 and December 31, 2019. Accordingly, the net sales and the operating segment income associated with the Radio business, which was part of the Company&#8217;s Other Businesses segment, are presented separately as held-for-sale
      operations for the quarters ended March 31, 2020 and 2019. Notwithstanding the foregoing, the transaction was consummated for legal and tax purposes.</div>
    <div style="text-align: justify; margin-right: 22.5pt; margin-left: 28.35pt; font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup> Operating segment income is defined as operating income before depreciation and amortization, corporate expenses, and other income (expense),
      net.</div>
    <div style="text-align: justify; margin-right: 22.5pt; margin-left: 28.35pt; font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">4</sup> As a result of IFRS 16 Leases (&#8220;IFRS 16&#8221;) adoption, intersegment operations related to intercompany leases were not eliminated on the
      Operating Segment Income level as in prior years.</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
  </div>
  <font style="font-family: Arial;"> <br>
  </font>
  <div> <font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify;">
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: right;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-weight: normal; font-style: normal;">3</font></div>
      <div style="page-break-after: always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="line-height: 12.55pt;">
      <div style="text-align: center; line-height: 11.4pt; font-family: Arial; font-size: 14pt; font-weight: bold;">Cable</div>
      <div style="line-height: 11.4pt;"><font style="font-family: Arial;"><br style="line-height: 11.4pt;">
        </font> </div>
      <div><font style="font-weight: bold; font-family: Arial;">Total net additions for the quarter</font><font style="font-family: Arial;"> were approximately 255.8 thousand RGUs. Quarterly growth was mainly driven by 121.1 thousand broadband net
          additions, the fastest pace of growth in broadband RGUs in seven quarters, and 145.5 thousand voice net additions. Video RGUs decreased by 10.8 thousand.</font></div>
      <div><font style="font-family: Arial;"><br>
        </font> </div>
      <div style="font-family: Arial;">The following table sets forth the breakdown of RGUs per service type for our Cable segment as of March 31, 2020 and 2019.</div>
      <div><font style="font-family: Arial;"><br>
        </font> </div>
      <div>
        <table cellspacing="0" cellpadding="0" border="0" align="center" id="z70fca0e3a3214bedbaf1cf52b63f51dd" style="width: 50%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">

            <tr>
              <td style="width: 31.85%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
                <div style="font-style: italic; font-weight: bold; font-family: Arial;">RGUs</div>
              </td>
              <td style="width: 32.01%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">1Q&#8217;20</div>
              </td>
              <td style="width: 36.14%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">1Q&#8217;19</div>
              </td>
            </tr>
            <tr>
              <td style="width: 31.85%; vertical-align: middle; border-right: 2px solid rgb(0, 0, 0);">
                <div style="font-family: Arial;">Video</div>
              </td>
              <td style="width: 32.01%; vertical-align: middle;">
                <div style="text-align: right; font-family: Arial;">4,308,058</div>
              </td>
              <td style="width: 36.14%; vertical-align: middle;">
                <div style="text-align: right; font-family: Arial;">4,375,626</div>
              </td>
            </tr>
            <tr>
              <td style="width: 31.85%; vertical-align: middle; border-right: 2px solid rgb(0, 0, 0);">
                <div style="font-family: Arial;">Broadband</div>
              </td>
              <td style="width: 32.01%; vertical-align: middle;">
                <div style="text-align: right; font-family: Arial;">4,817,103</div>
              </td>
              <td style="width: 36.14%; vertical-align: middle;">
                <div style="text-align: right; font-family: Arial;">4,567,517</div>
              </td>
            </tr>
            <tr>
              <td style="width: 31.85%; vertical-align: middle; border-right: 2px solid rgb(0, 0, 0);">
                <div style="font-family: Arial;">Voice</div>
              </td>
              <td style="width: 32.01%; vertical-align: middle;">
                <div style="text-align: right; font-family: Arial;">3,783,519</div>
              </td>
              <td style="width: 36.14%; vertical-align: middle;">
                <div style="text-align: right; font-family: Arial;">3,183,248</div>
              </td>
            </tr>
            <tr>
              <td style="width: 31.85%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
                <div style="font-weight: bold; font-family: Arial;">Total RGUs</div>
              </td>
              <td style="width: 32.01%; vertical-align: middle; border-bottom: #000000 2px solid;">
                <div style="text-align: right; font-weight: bold; font-family: Arial;">12,908,680</div>
              </td>
              <td style="width: 36.14%; vertical-align: middle; border-bottom: #000000 2px solid;">
                <div style="text-align: right; font-weight: bold; font-family: Arial;">12,126,391</div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div style="line-height: 12.55pt;"> <font style="font-family: Arial;"><br>
      </font> </div>
    <div style="line-height: 12.55pt;"> </div>
    <div style="line-height: 12.55pt;"> <font style="font-family: Arial;"><br>
      </font> </div>
    <font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify;"><font style="font-weight: bold; font-family: Arial;">First-quarter sales</font><font style="font-family: Arial;"> increased by 9.4% to Ps.10,824.7 million compared with Ps.9,898.1 million in first-quarter 2019 driven by
      solid net additions in broadband and voice.</font></div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify;"><font style="font-weight: bold; font-family: Arial;">First-quarter operating segment income </font><font style="font-family: Arial;">increased by 4.5% to Ps.4,490.3 million compared with Ps.4,297.1 million in
      first-quarter 2019. Margin decreased by 190 basis points to 41.5% due to growth in the sale of third party Over-the-Top platforms and the increase in the number of RGUs per subscriber.</font></div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; font-family: Arial;">The following tables set forth the breakdown of revenues and operating segment income, excluding consolidation adjustments, for our MSO and enterprise operations for first-quarter 2020 and 2019.</div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify;"> <font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify;">
    <table cellspacing="0" cellpadding="0" border="0" align="center" id="z60e40353dae140f6bcf3b7eca4fe0a5d" style="width: 75%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">

        <tr>
          <td style="width: 37.6%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div><font style="font-weight: bold; font-style: italic; font-family: Arial;">MSO Operations</font><font style="font-family: Arial;">&#160;<sup style="font-style: italic; font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></font></div>
            <div style="font-family: Arial;">Millions of Mexican pesos</div>
          </td>
          <td style="width: 22.39%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">1Q&#8217;20</div>
          </td>
          <td style="width: 22.39%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">1Q&#8217;19</div>
          </td>
          <td style="width: 17.61%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">Change %</div>
          </td>
        </tr>
        <tr>
          <td style="width: 37.6%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0);">
            <div style="font-family: Arial;">Revenue</div>
          </td>
          <td style="width: 22.39%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">9,755.8</div>
          </td>
          <td style="width: 22.39%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">8,874.2</div>
          </td>
          <td style="width: 17.61%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">9.9</div>
          </td>
        </tr>
        <tr>
          <td style="width: 37.6%; vertical-align: bottom; background-color: rgb(255, 255, 255); border-right: 2px solid rgb(0, 0, 0);">
            <div style="font-family: Arial;">Operating Segment Income</div>
          </td>
          <td style="width: 22.39%; vertical-align: middle; background-color: #FFFFFF;">
            <div style="text-align: right; font-family: Arial;">4,122.7</div>
          </td>
          <td style="width: 22.39%; vertical-align: middle; background-color: #FFFFFF;">
            <div style="text-align: right; font-family: Arial;">3,917.6</div>
          </td>
          <td style="width: 17.61%; vertical-align: middle; background-color: #FFFFFF;">
            <div style="text-align: right; font-family: Arial;">5.2</div>
          </td>
        </tr>
        <tr>
          <td style="width: 37.6%; vertical-align: bottom; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div style="font-family: Arial;">Margin (%)</div>
          </td>
          <td style="width: 22.39%; vertical-align: middle; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-family: Arial;">42.3</div>
          </td>
          <td style="width: 22.39%; vertical-align: middle; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-family: Arial;">44.1</div>
          </td>
          <td style="width: 17.61%; vertical-align: middle; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-family: Arial;">&#160;</div>
          </td>
        </tr>

    </table>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <table cellspacing="0" cellpadding="0" border="0" align="center" id="z0d2f684907c142eda5d4879058d4eb88" style="width: 75%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">

        <tr>
          <td style="width: 37.6%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div><font style="font-weight: bold; font-style: italic; font-family: Arial;">Enterprise Operations </font><font style="font-family: Arial;"><sup style="font-style: italic; font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></font></div>
            <div style="font-family: Arial;">Millions of Mexican pesos</div>
          </td>
          <td style="width: 22.39%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">1Q&#8217;20</div>
          </td>
          <td style="width: 22.39%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">1Q&#8217;19</div>
          </td>
          <td style="width: 17.61%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">Change %</div>
          </td>
        </tr>
        <tr>
          <td style="width: 37.6%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0);">
            <div style="font-family: Arial;">Revenue</div>
          </td>
          <td style="width: 22.39%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">1,482.2</div>
          </td>
          <td style="width: 22.39%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">1,393.1</div>
          </td>
          <td style="width: 17.61%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">6.4</div>
          </td>
        </tr>
        <tr>
          <td style="width: 37.6%; vertical-align: bottom; background-color: rgb(255, 255, 255); border-right: 2px solid rgb(0, 0, 0);">
            <div style="font-family: Arial;">Operating Segment Income</div>
          </td>
          <td style="width: 22.39%; vertical-align: middle; background-color: #FFFFFF;">
            <div style="text-align: right; font-family: Arial;">505.2</div>
          </td>
          <td style="width: 22.39%; vertical-align: middle; background-color: #FFFFFF;">
            <div style="text-align: right; font-family: Arial;">497.0</div>
          </td>
          <td style="width: 17.61%; vertical-align: middle; background-color: #FFFFFF;">
            <div style="text-align: right; font-family: Arial;">1.6</div>
          </td>
        </tr>
        <tr>
          <td style="width: 37.6%; vertical-align: bottom; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div style="font-family: Arial;">Margin (%)</div>
          </td>
          <td style="width: 22.39%; vertical-align: middle; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-family: Arial;">34.1</div>
          </td>
          <td style="width: 22.39%; vertical-align: middle; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-family: Arial;">35.7</div>
          </td>
          <td style="width: 17.61%; vertical-align: middle; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-family: Arial;">&#160;</div>
          </td>
        </tr>

    </table>
    <div>
      <table cellspacing="0" cellpadding="0" id="zb36bb922028741d99380b8366c423b3b" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.9pt; vertical-align: top; font-size: 8pt; font-weight: normal;">
              <div style="margin-left: 56.7pt; font-family: Arial;">(1)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-size: 8pt; text-align: justify; text-indent: 0pt; font-family: Arial;">These results do not include consolidation adjustments of Ps.413.3 million in revenues nor Ps.137.6 million in operating segment income for first quarter
                2020, neither the consolidation adjustments of Ps.369.2 million in revenues nor Ps.117.5 million in operating segment income for first quarter 2019. Consolidation adjustments are considered in the consolidated results of the Cable segment.</div>
            </td>
          </tr>

      </table>
    </div>
  </div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div>
    <div style="text-align: justify; font-family: Arial;">First-quarter sales and operating segment income in our MSO operations increased by 9.9% and 5.2%, respectively. First-quarter sales and operating segment income in our Enterprise operations
      increased by 6.4% and 1.6%, respectively.</div>
  </div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
    <div id="DSPFPageNumberArea" style="text-align: right;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-weight: normal; font-style: normal;">4</font></div>
    <div style="page-break-after: always;" id="DSPFPageBreak">
      <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
  </div>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: center; font-family: Arial;"><font style="font-size: 14pt; font-weight: bold;">Sky</font></div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> <font style="font-weight: bold;">During the quarter</font>, Sky continued growing its broadband business after adding 44.3 thousand broadband RGUs. It reached a total of 430.4 thousand broadband RGUs. Sky also added
    8.1 thousand video RGUs. It&#8217;s the fourth consecutive quarter with video net additions. </font>
  <div style="text-align: justify;">
    <div style="text-align: left; line-height: 12.55pt; margin-bottom: 10pt;">
      <div><font style="font-family: Arial;"><br>
        </font> </div>
      <div style="text-align: justify; font-family: Arial;">The following table sets forth the breakdown of RGUs per service type for Sky as of March 31, 2020 and 2019.</div>
      <div style="text-align: justify;"> <font style="font-family: Arial;"><br>
        </font> </div>
      <div style="text-align: justify;">
        <table cellspacing="0" cellpadding="0" border="0" align="center" id="z7f823293624342d48d12a784c74abd16" style="width: 50%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">

            <tr>
              <td style="width: 31.85%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
                <div style="font-style: italic; font-weight: bold; font-family: Arial;">RGUs</div>
              </td>
              <td style="width: 32.01%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">1Q&#8217;20</div>
              </td>
              <td style="width: 36.14%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">1Q&#8217;19</div>
              </td>
            </tr>
            <tr>
              <td style="width: 31.85%; vertical-align: middle; border-right: 2px solid rgb(0, 0, 0);">
                <div style="font-family: Arial;">Video</div>
              </td>
              <td style="width: 32.01%; vertical-align: middle;">
                <div style="text-align: right; font-family: Arial;">7,437,469</div>
              </td>
              <td style="width: 36.14%; vertical-align: middle;">
                <div style="text-align: right; font-family: Arial;">7,386,347</div>
              </td>
            </tr>
            <tr>
              <td style="width: 31.85%; vertical-align: middle; border-right: 2px solid rgb(0, 0, 0);">
                <div style="font-family: Arial;">Broadband</div>
              </td>
              <td style="width: 32.01%; vertical-align: middle;">
                <div style="text-align: right; font-family: Arial;">430,412</div>
              </td>
              <td style="width: 36.14%; vertical-align: middle;">
                <div style="text-align: right; font-family: Arial;">165,262</div>
              </td>
            </tr>
            <tr>
              <td style="width: 31.85%; vertical-align: middle; border-right: 2px solid rgb(0, 0, 0);">
                <div style="font-family: Arial;">Voice</div>
              </td>
              <td style="width: 32.01%; vertical-align: middle;">
                <div style="text-align: right; font-family: Arial;">1,052</div>
              </td>
              <td style="width: 36.14%; vertical-align: middle;">
                <div style="text-align: right; font-family: Arial;">1,493</div>
              </td>
            </tr>
            <tr>
              <td style="width: 31.85%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
                <div style="font-weight: bold; font-family: Arial;">Total RGUs</div>
              </td>
              <td style="width: 32.01%; vertical-align: middle; border-bottom: #000000 2px solid;">
                <div style="text-align: right; font-weight: bold; font-family: Arial;">7,868,933</div>
              </td>
              <td style="width: 36.14%; vertical-align: middle; border-bottom: #000000 2px solid;">
                <div style="text-align: right; font-weight: bold; font-family: Arial;">7,553,102</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="text-align: justify; line-height: 11.4pt; font-family: 'Times New Roman', serif;"> <font style="font-family: Arial;"><br>
        </font> </div>
      <div style="text-align: justify; line-height: 11.4pt; font-family: 'Times New Roman', serif;">
        <table cellspacing="0" cellpadding="0" border="0" align="center" id="z23ab399e3b334a1fac57122b3e0303c7" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">
        </table>
      </div>
    </div>
    <div style="text-align: left; line-height: 12.55pt; margin-bottom: 10pt;"> </div>
  </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify;"> <font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify;">
    <div style="line-height: 12.55pt; margin-bottom: 10pt; font-family: 'Times New Roman',Times,serif;">
      <div style="font-family: 'Times New Roman', Times, serif;"><font style="font-weight: bold; font-family: Arial;">First-quarter sales</font><font style="font-family: Arial;"> increased by 2.3% to Ps.5,405.3 million compared with Ps.5,281.6 million in
          first-quarter 2019, mainly explained by the growth in broadband RGUs.</font></div>
      <div><font style="font-family: Arial;"><br>
        </font> </div>
      <div style="font-family: 'Times New Roman', Times, serif;"><font style="font-weight: bold; font-family: Arial;">First-quarter operating segment income</font><font style="font-family: Arial;"> decreased by 3.2% to Ps.2,234.0 million compared with
          Ps.2,306.9 million in first-quarter 2019. The margin was 41.3%. The decline was due to the costs related to the commercial effort to grow Sky&#8217;s broadband service and the lower margin that this service has.</font></div>
    </div>
  </div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: center; font-family: Arial;"><font style="font-size: 14pt; font-weight: bold;">Content</font></div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify;">
    <div style="text-align: left;"><font style="font-weight: bold; font-family: Arial;">First-quarter sales </font><font style="font-family: Arial;">decreased by 6.4% to Ps.6,727.6 million compared with Ps.7,184.9 million in first-quarter 2019.</font></div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <table cellspacing="0" cellpadding="0" id="z4c257f21cb904f6ba7543173e7fffd19" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 38.54%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div style="font-family: Arial;">Millions of Mexican pesos</div>
          </td>
          <td style="width: 14.47%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">1Q&#8217;20</div>
          </td>
          <td style="width: 10.48%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">%</div>
          </td>
          <td style="width: 14.48%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">1Q&#8217;19</div>
          </td>
          <td style="width: 10.32%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">%</div>
          </td>
          <td style="width: 11.72%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">Change %</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.54%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
            <div style="font-family: Arial;">Advertising</div>
          </td>
          <td style="width: 14.47%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">2,635.1</div>
          </td>
          <td style="width: 10.48%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">39.2</div>
          </td>
          <td style="width: 14.48%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">3,681.9</div>
          </td>
          <td style="width: 10.32%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">51.2</div>
          </td>
          <td style="width: 11.72%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(28.4)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.54%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
            <div style="font-family: Arial;">Network Subscription</div>
          </td>
          <td style="width: 14.47%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">1,332.1</div>
          </td>
          <td style="width: 10.48%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">19.8</div>
          </td>
          <td style="width: 14.48%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">1,218.3</div>
          </td>
          <td style="width: 10.32%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">17.0</div>
          </td>
          <td style="width: 11.72%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">9.3</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.54%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
            <div style="font-family: Arial;">Licensing and Syndication</div>
          </td>
          <td style="width: 14.47%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">2,760.4</div>
          </td>
          <td style="width: 10.48%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">41.0</div>
          </td>
          <td style="width: 14.48%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">2,284.7</div>
          </td>
          <td style="width: 10.32%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">31.8</div>
          </td>
          <td style="width: 11.72%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">20.8</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.54%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold; font-family: Arial;">Net Sales</div>
          </td>
          <td style="width: 14.47%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">6,727.6</div>
          </td>
          <td style="width: 10.48%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-family: Arial;">&#160;</div>
          </td>
          <td style="width: 14.48%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">7,184.9</div>
          </td>
          <td style="width: 10.32%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-family: Arial;">&#160;</div>
          </td>
          <td style="width: 11.72%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">(6.4)</div>
          </td>
        </tr>

    </table>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div style="font-weight: bold; font-family: Arial;">Advertising</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div style="font-family: Arial;">First-quarter advertising sales decreased by 28.4% to Ps.2,635.1 million compared with Ps.3,681.9 million in first-quarter 2019. The decrease in sales is substantially explained by the one-time change in the calendar
      for negotiations of our upfront, resulting in many advertising customers pushing back the startup of their advertising campaigns for the year with Televisa. It is also explained by a significant deterioration in growth expectations for Mexico
      triggered by the outbreak of COVID-19. As a result of the new level of uncertainty, many clients decided to pull back on advertising in the last two weeks of the quarter.</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
  </div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
    <div id="DSPFPageNumberArea" style="text-align: right;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-weight: normal; font-style: normal;">5</font></div>
    <div style="page-break-after: always;" id="DSPFPageBreak">
      <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
  </div>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: left; font-weight: bold; font-family: Arial;">Network Subscription</div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; font-family: Arial;">First-quarter Network Subscription sales increased by 9.3% to Ps.1,332.1 million compared with Ps.1,218.3 million in first-quarter 2019. This increase is mainly related to a price increase and to the
    favorable impact of the depreciation of the Mexican peso on our dollar-denominated revenues.</div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; font-weight: bold; font-family: Arial;">Licensing and Syndication</div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; font-family: Arial;">First-quarter Licensing and Syndication sales increased by 20.8% to Ps.2,760.4 million from Ps.2,284.7 million in first-quarter 2019. Royalties from Univision reached U.S.$97.6 million in
    first-quarter 2020 compared to U.S.$88.0 million in first-quarter 2019.</div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify;"><font style="font-weight: bold; font-family: Arial;">First-quarter operating segment income </font><font style="font-family: Arial;">decreased by 28.8% to Ps.1,613.9 million compared with Ps.2,267.3 million in
      first-quarter 2019. This decrease is mainly explained by the drop in advertising sales. The margin was 24.0%.</font></div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: center; font-family: Arial;"><font style="font-size: 14pt; font-weight: bold;">Other Businesses</font></div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify;"><font style="font-weight: bold; font-family: Arial;">First-quarter sales </font><font style="font-family: Arial;">decreased by 16.5% to Ps.1,756.5 million compared with Ps.2,104.4 million in first-quarter 2019. The
      decrease is mainly explained by a decline in revenues in our soccer, gaming and publishing businesses, partially compensated by feature films distribution business.</font></div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify;"><font style="font-weight: bold; font-family: Arial;">First-quarter operating segment income</font><font style="font-family: Arial;"> decreased by 26.3% to Ps.371.0 million compared with Ps.503.1 million in first-quarter
      2019. The decline was mainly explained by a decrease in operating segment income in our soccer and gaming businesses, partially compensated by feature films distribution and publishing businesses.</font></div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; font-weight: bold; font-family: Arial;">Corporate Expense</div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; font-family: Arial;">Corporate expense decreased by Ps.92.3 million, or 17.9%, to Ps.423.8 million in first-quarter 2020, from Ps.516.1 million in first-quarter 2019. This decrease reflected primarily a lower share-based
    compensation expense.</div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; font-family: Arial;">Share-based compensation expense in first-quarter 2020 and 2019, amounted to Ps.209.1 million and Ps.317.2 million, respectively, and was accounted for as corporate expense. Share-based compensation
    expense is measured at fair value at the time the equity benefits are conditionally sold to officers and employees, and is recognized over the vesting period.</div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; font-weight: bold; font-family: Arial;">Other Income or Expense, Net</div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; font-family: Arial;">Other income or expense, net, changed by Ps.473.8 million, to other income, net, of Ps.284.9 million in first-quarter 2020, from other expense, net, of Ps.188.9 million in first-quarter 2019.</div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="line-height: 12.55pt; margin-bottom: 10pt; font-family: 'Times New Roman',Times,serif;">
    <div style="margin-right: 2.15pt; line-height: 11.4pt; font-family: 'Times New Roman', serif;"> <font style="font-family: Arial;"><br>
      </font> </div>
  </div>
  <font style="font-family: Arial;"> </font>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageNumberArea" style="text-align: right;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-weight: normal; font-style: normal;">6</font></div>
    <div id="DSPFPageBreak" style="page-break-after: always;">
      <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
  </div>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div>
    <div style="text-align: justify; font-family: Arial;">This change reflected primarily a non-cash Ps.386.0 million decrease in a provision for an appreciation payment arrangement between Televisa and a Univision Holdings, Inc. (&#8220;UHI&#8221;)&#160; related party, in
      connection with the acquisition of the majority stock of UHI by new investors announced on February 25, 2020, and the decline in the estimated fair value of Televisa&#8217;s investments in UHI as of March 31, 2020.</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div style="text-align: justify; margin-bottom: 10pt; font-family: Arial;">Additional favorable variances in first-quarter 2020, included lower loss on disposition of property and equipment, as well as a decrease in non-recurrent severance expense in
      connection with dismissals of personnel in our Content segment.</div>
    <div style="text-align: justify; font-family: Arial;">The following table sets forth the breakdown of cash and non-cash other income (expense), net, stated in millions of Mexican pesos, for the three months ended March 31, 2020 and 2019.</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <table cellspacing="0" cellpadding="0" border="0" align="center" id="zdb3cf723e1d5439b99025b36b84c636f" style="width: 50%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">

        <tr>
          <td style="width: 45.25%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div style="font-style: italic; font-weight: bold; font-family: Arial;">Other income (expense), net</div>
          </td>
          <td style="width: 21.63%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">2020</div>
          </td>
          <td style="width: 33.12%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">2019</div>
          </td>
        </tr>
        <tr>
          <td style="width: 45.25%; vertical-align: middle; border-right: 2px solid rgb(0, 0, 0);">
            <div style="font-family: Arial;">Cash</div>
          </td>
          <td style="width: 21.63%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(137.6)</div>
          </td>
          <td style="width: 33.12%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(130.2)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 45.25%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div style="font-family: Arial;">Non-cash</div>
          </td>
          <td style="width: 21.63%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-family: Arial;">422.5</div>
          </td>
          <td style="width: 33.12%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-family: Arial;">(58.7)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 45.25%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold; font-family: Arial;">Total</div>
          </td>
          <td style="width: 21.63%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-family: Arial;">284.9</div>
          </td>
          <td style="width: 33.12%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-family: Arial;">(188.9)</div>
          </td>
        </tr>

    </table>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
  </div>
  <font style="font-family: Arial;"> </font>
  <div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div style="text-align: left; font-weight: bold; font-family: Arial;">Finance Expense, Net</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div style="text-align: justify; margin-right: 2.15pt; font-family: Arial;">The following table sets forth finance (expense) income, net, stated in millions of Mexican pesos for the quarters ended March 31, 2020 and 2019.</div>
  </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; line-height: 12.55pt; margin-bottom: 10pt; font-family: 'Times New Roman',Times,serif;">
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z159552916e4745bdba188cf611be4be0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 52.46%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); font-family: Arial;">&#160;</td>
            <td style="width: 14.97%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">1Q 2020</div>
            </td>
            <td style="width: 16.75%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">1Q 2019</div>
            </td>
            <td style="width: 15.82%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">(Increase)</div>
              <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">decrease</div>
            </td>
          </tr>
          <tr>
            <td style="width: 52.46%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: justify; font-family: Arial;">Interest expense</div>
            </td>
            <td style="width: 14.97%; vertical-align: top;">
              <div style="text-align: right; font-family: Arial;">(2,528.2)</div>
            </td>
            <td style="width: 16.75%; vertical-align: top;">
              <div style="text-align: right; font-family: Arial;">(2,406.8)</div>
            </td>
            <td style="width: 15.82%; vertical-align: top;">
              <div style="text-align: right; font-family: Arial;">(121.4)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 52.46%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: justify; font-family: Arial;">Interest income</div>
            </td>
            <td style="width: 14.97%; vertical-align: top;">
              <div style="text-align: right; font-family: Arial;">223.9</div>
            </td>
            <td style="width: 16.75%; vertical-align: top;">
              <div style="text-align: right; font-family: Arial;">296.5</div>
            </td>
            <td style="width: 15.82%; vertical-align: top;">
              <div style="text-align: right; font-family: Arial;">(72.6)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 52.46%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: justify; font-family: Arial;">Foreign exchange (loss) gain, net</div>
            </td>
            <td style="width: 14.97%; vertical-align: top;">
              <div style="text-align: right; font-family: Arial;">(8,601.4)</div>
            </td>
            <td style="width: 16.75%; vertical-align: top;">
              <div style="text-align: right; font-family: Arial;">139.0</div>
            </td>
            <td style="width: 15.82%; vertical-align: top;">
              <div style="text-align: right; font-family: Arial;">(8,740.4)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 52.46%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: justify; font-family: Arial;">Other finance income (expense), net</div>
            </td>
            <td style="width: 14.97%; vertical-align: top;">
              <div style="text-align: right; font-family: Arial;">2,198.1</div>
            </td>
            <td style="width: 16.75%; vertical-align: top;">
              <div style="text-align: right; font-family: Arial;">(302.8)</div>
            </td>
            <td style="width: 15.82%; vertical-align: top;">
              <div style="text-align: right; font-family: Arial;">2,500.9</div>
            </td>
          </tr>
          <tr>
            <td style="width: 52.46%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: justify; font-weight: bold; font-family: Arial;">Finance expense, net</div>
            </td>
            <td style="width: 14.97%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: right; font-weight: bold; font-family: Arial;">(8,707.6)</div>
            </td>
            <td style="width: 16.75%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: right; font-weight: bold; font-family: Arial;">(2,274.1)</div>
            </td>
            <td style="width: 15.82%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: right; font-weight: bold; font-family: Arial;">(6,433.5)</div>
            </td>
          </tr>

      </table>
      <div><font style="font-family: Arial;"><br>
        </font> </div>
      <div style="font-family: Arial;">Finance expense, net, increased by Ps.6,433.5 million, to Ps.8,707.6 million in first-quarter 2020, from Ps.2,274.1 million in first-quarter 2019.</div>
      <div><font style="font-family: Arial;"><br>
        </font> </div>
      <div style="font-family: Arial;">This increase reflected:</div>
      <div><font style="font-family: Arial;"><br>
        </font> </div>
      <div>
        <table cellspacing="0" cellpadding="0" id="z5bf9abb2094b4c19871c5859c1c4f568" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt; font-family: Arial;">I.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; font-family: Arial;">a Ps.8,740.4 million unfavorable change resulting primarily from a 26.4% depreciation of the Mexican peso against the U.S. dollar in first-quarter 2020, in comparison with a 1.3%
                  appreciation in first-quarter 2019, on a higher average net U.S. dollar liability position;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><font style="font-family: Arial;"><br>
        </font> </div>
      <div>
        <table cellspacing="0" cellpadding="0" id="z1b3df870b7a640c2becdcc9c23c4624a" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt; font-family: Arial;">II.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; text-indent: 0pt; font-family: Arial;">a Ps.121.4 million increase in interest expense, primarily due to a higher average principal amount of debt in 2020; and</div>
              </td>
            </tr>

        </table>
      </div>
      <div><font style="font-family: Arial;"><br>
        </font> </div>
      <div>
        <table cellspacing="0" cellpadding="0" id="z043af2067b4d4427bc416fc2cf7576cc" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt; font-family: Arial;">III.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; text-indent: 0pt; font-family: Arial;">a Ps.72.6 million decrease in interest income, primarily explained by a lower average amount of cash equivalents.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><font style="font-family: Arial;"><br>
        </font> </div>
      <div style="font-family: Arial;">These unfavorable variances were partially offset by a Ps.2,500.9 million favorable change in other finance income or expense, net, resulting primarily from changes in fair value of our derivative contracts.</div>
      <div><font style="font-family: Arial;"><br>
        </font> </div>
    </div>
  </div>
  <font style="font-family: Arial;"> </font>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageNumberArea" style="text-align: right;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-weight: normal; font-style: normal;">7</font></div>
    <div id="DSPFPageBreak" style="page-break-after: always;">
      <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
  </div>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: left; font-family: Arial;"><font style="font-weight: bold;">Share of Income or Loss of Associates and Joint Ventures, Net</font></div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; font-family: Arial;">Share of income or loss of associates and joint ventures, net, changed by Ps.5,514.4 million, to a share of loss of Ps.5,348.6 million in first-quarter 2020, from a share of income of Ps.165.8 million
    in first-quarter 2019. This unfavorable change reflected mainly:</div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div>
    <table cellspacing="0" cellpadding="0" id="zaa4eadc0c4844a0eb17341ccfa5fef0d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">
            <div style="margin-left: 18pt; font-family: Arial;">I.</div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; font-family: Arial;">an impairment loss in the amount of Ps.5,455.4 million that decreased the carrying value of our investment in shares of UHI as of March 31, 2020, resulting from a decline in the estimated
              fair value of our investments in UHI as of that date (please refer to &#8220;Investments in warrants and shares of Univision&#8221; section for further information) ; and</div>
          </td>
        </tr>

    </table>
  </div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div>
    <table cellspacing="0" cellpadding="0" id="ze7d2931e7bbe43f1b2849ee3fa7938cf" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">
            <div style="margin-left: 18pt; font-family: Arial;">II.</div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; text-indent: 0pt; font-family: Arial;">the absence of share of income of OCESA Entretenimiento, S.A. de C.V. (&#8220;OCEN&#8221;), a live entertainment company in Mexico, Central America and Colombia, as we classified this
              investment as held for sale as of July 31, 2019, and discontinued the recognition of share of income of OCEN beginning on August 1, 2019, in connection with an agreement to dispose of this associate, to be concluded subject to certain
              customary closing conditions.</div>
          </td>
        </tr>

    </table>
  </div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; margin-bottom: 10pt; font-family: Arial;">These unfavorable variances were partially offset by a higher share of income of Univision Holdings, Inc. or UHI, the controlling company of Univision Communications Inc.</div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; font-weight: bold; font-family: Arial;">Investments in warrants and shares of Univision</div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; font-family: Arial;">In conjunction with the acquisition of the majority stock of UHI by a group of investors, which was announced on February 25, 2020, we reviewed the assumptions and inputs related to our discounted
    cash flow model used to determine the fair value of our investment in warrants and shares of UHI as of March 31, 2020. In addition, we retained the services of a third party to perform a valuation analysis. Based on these assessments and reviews, we
    recognized:</div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div>
    <table cellspacing="0" cellpadding="0" id="z3798ed6ab10747f89a4d4cbd35dc8985" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">
            <div style="margin-left: 18pt; font-family: Arial;">I.</div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; font-family: Arial;">a decline in the estimated fair value of Televisa&#8217;s investment in warrants exercisable for shares of UHI as of March 31, 2020, in the amount of Ps.21,937.1 million, which was accounted for
              in accumulated other comprehensive income or loss (&#8220;OCI&#8221;), net of income tax of Ps.6,581.1 million, in Televisa&#8217;s consolidated statement of financial position as of March 31, 2020; and</div>
          </td>
        </tr>

    </table>
  </div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div>
    <table cellspacing="0" cellpadding="0" id="zdd5e8ba25eb14bac9dafdd91d5c2b3d2" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">
            <div style="margin-left: 18pt; font-family: Arial;">II.</div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; text-indent: 0pt; font-family: Arial;">a decrease in the carrying value of Televisa&#8217;s investment in shares of UHI as of March 31, 2020, in the amount of Ps.5,455.4 million, which was accounted for in share of
              income or loss of associates and joint ventures in the consolidated statement of income (&#8220;IS&#8221;) for the three months ended March 31, 2020.</div>
          </td>
        </tr>

    </table>
  </div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: left; font-family: Arial;"><font style="font-weight: bold;"> <br>
    </font></div>
  <font style="font-family: Arial;"> </font>
  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
    <div id="DSPFPageNumberArea" style="text-align: right;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-weight: normal; font-style: normal;">8</font></div>
    <div style="page-break-after: always;" id="DSPFPageBreak">
      <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
  </div>
  <div style="text-align: left; font-family: Arial;"><font style="font-weight: bold;"> <br>
    </font></div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: left;"><font style="font-family: Arial;"><br>
    </font>
    <div style="text-align: justify; font-family: Arial;">The following table summarizes the carrying value of the investments in UHI as of March 31, 2020, and December 31, 2019, before and after the change in fair value (&#8220;FV&#8221;), in millions of Mexican
      pesos.</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <table cellspacing="0" cellpadding="0" border="0" id="ze1c5a65f0d614fcf95a96bc7037a2f43" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 21.92%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div style="font-family: Arial; font-style: italic; font-weight: bold;">Investments in UHI</div>
          </td>
          <td style="width: 15.65%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-family: Arial; font-style: italic; font-weight: bold;">Carrying value at December 31, 2019</div>
          </td>
          <td style="width: 18%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold; border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-family: Arial; font-style: italic;">Carrying value before</div>
            <div style="text-align: right; font-family: Arial; font-style: italic;">FV Change on</div>
            <div style="text-align: right; font-family: Arial; font-style: italic;">March 31, 2020<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold; border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-family: Arial; font-style: italic;">FV</div>
            <div style="text-align: right; font-family: Arial; font-style: italic;">Change</div>
          </td>
          <td style="width: 16%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-family: Arial; font-style: italic; font-weight: bold;">Carrying value at</div>
            <div style="text-align: right; font-family: Arial; font-style: italic; font-weight: bold;"> March 31, 2020</div>
          </td>
          <td style="width: 18%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-family: Arial; font-style: italic; font-weight: bold;">FV </div>
            <div style="text-align: right; font-family: Arial; font-style: italic; font-weight: bold;">Change </div>
            <div style="text-align: right; font-family: Arial; font-style: italic; font-weight: bold;">Accounted for in</div>
          </td>
        </tr>
        <tr>
          <td style="width: 21.92%; vertical-align: middle; border-right: 2px solid rgb(0, 0, 0);">
            <div style="font-family: Arial;">Warrants, at fair value</div>
          </td>
          <td style="width: 15.65%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">33,775.4</div>
          </td>
          <td style="width: 18%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">42,683.3</div>
          </td>
          <td style="width: 10%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">(21,937.1)</div>
          </td>
          <td style="width: 16%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">20,746.2</div>
          </td>
          <td style="width: 18%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">OCI</div>
          </td>
        </tr>
        <tr>
          <td style="width: 21.92%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div style="font-family: Arial;">Shares, at equity method</div>
          </td>
          <td style="width: 15.65%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-family: Arial;">8,189.7</div>
          </td>
          <td style="width: 18%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-family: Arial;">10,476.6</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-family: Arial;">(5,455.4)</div>
          </td>
          <td style="width: 16%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-family: Arial;">5,021.2</div>
          </td>
          <td style="width: 18%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-family: Arial;">IS</div>
          </td>
        </tr>
        <tr>
          <td style="width: 21.92%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold; font-family: Arial;">Total</div>
          </td>
          <td style="width: 15.65%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-family: Arial;">41,965.1</div>
          </td>
          <td style="width: 18%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-family: Arial;">53,159.9</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-family: Arial;">(27,392.5)</div>
          </td>
          <td style="width: 16%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-family: Arial;">25,767.4</div>
          </td>
          <td style="width: 18%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">&#160;</td>
        </tr>

    </table>
    <div style="margin-left: 14.2pt; font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>This carrying value already considers the positive impact that the depreciation of the peso had, during first quarter 2020, on this dollar denominated investment.</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div style="font-weight: bold; font-family: Arial;">Income Taxes</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div style="text-align: justify; font-family: Arial;">Income tax represented a benefit of Ps.1,725.9 million in first-quarter 2020, from an income tax expense of Ps.504.0 million in first-quarter 2019. This change reflected mainly the income tax losses
      of the Company and some of its subsidiaries, resulting from their foreign exchange loss in first-quarter 2020.</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div style="font-weight: bold; font-family: Arial;">Net Income Attributable to Non-controlling Interests</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div style="text-align: justify; font-family: Arial;">Net income attributable to non-controlling interests increased by Ps.431.8 million, to Ps.748.2 million in first-quarter 2020, compared with Ps.316.4 million in first-quarter 2019. This increase
      reflected primarily a higher portion of net income attributable to non-controlling interests in our Cable and Sky segments.</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div style="font-weight: bold; font-family: Arial;">Capital Expenditures</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div style="text-align: justify; font-family: Arial;">During first-quarter 2020, we invested approximately U.S.$227.4 million in property, plant and equipment as capital expenditures. The following table sets forth the breakdown of capital expenditures
      for first-quarter 2020 and 2019.</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <table cellspacing="0" cellpadding="0" border="0" align="center" id="zf685bc6f5d4849029aaad77ed211152b" style="width: 50%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">

        <tr>
          <td style="width: 47.42%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold; font-family: Arial;">Capital Expenditures</div>
            <div style="text-align: center; font-family: Arial;">Millions of U.S.$</div>
          </td>
          <td style="width: 24.81%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">1Q 2020</div>
          </td>
          <td style="width: 27.77%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">1Q 2019</div>
          </td>
        </tr>
        <tr>
          <td style="width: 47.42%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; font-family: Arial;">Cable</div>
          </td>
          <td style="width: 24.81%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">160.9</div>
          </td>
          <td style="width: 27.77%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">169.7</div>
          </td>
        </tr>
        <tr>
          <td style="width: 47.42%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; font-family: Arial;">Sky</div>
          </td>
          <td style="width: 24.81%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">61.8</div>
          </td>
          <td style="width: 27.77%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">47.1</div>
          </td>
        </tr>
        <tr>
          <td style="width: 47.42%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; font-family: Arial;">Content and Other Businesses</div>
          </td>
          <td style="width: 24.81%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">4.7</div>
          </td>
          <td style="width: 27.77%; vertical-align: middle;">
            <div style="text-align: right; font-family: Arial;">6.1</div>
          </td>
        </tr>
        <tr>
          <td style="width: 47.42%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; font-weight: bold; font-family: Arial;">Total</div>
          </td>
          <td style="width: 24.81%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">227.4</div>
          </td>
          <td style="width: 27.77%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-weight: bold; font-family: Arial;">222.9</div>
          </td>
        </tr>

    </table>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div style="text-align: justify; font-family: Arial;">For the full year, we are reducing our guidance in capital expenditures to a range of U.S.$750 million to U.S.$800 million.</div>
  </div>
  <font style="font-family: Arial;"> </font><font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageNumberArea" style="text-align: right;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-weight: normal; font-style: normal;">9</font></div>
    <div id="DSPFPageBreak" style="page-break-after: always;">
      <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
  </div>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: left; font-weight: bold; font-family: Arial;">Debt, Lease Liabilities and Other Notes Payable</div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; font-family: Arial;">The following table sets forth our total consolidated debt, lease liabilities and other notes payable as of March 31, 2020 and December 31, 2019. Amounts are stated in millions of Mexican pesos.</div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <table cellspacing="0" cellpadding="0" id="z900266cad4e445f6930e889e616dd730" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 52.04%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); font-family: Arial;">&#160;</td>
        <td style="width: 16.27%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
          <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">March 31, 2020</div>
        </td>
        <td style="width: 16.32%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
          <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">December 31, 2019</div>
        </td>
        <td style="width: 15.37%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
          <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">(decrease)</div>
          <div style="text-align: right; font-style: italic; font-weight: bold; font-family: Arial;">Increase</div>
        </td>
      </tr>
      <tr>
        <td style="width: 52.04%; vertical-align: middle; border-right: 2px solid rgb(0, 0, 0);">
          <div style="font-family: Arial;">Current portion of long-term debt</div>
        </td>
        <td style="width: 16.27%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-family: Arial;">492.0</div>
        </td>
        <td style="width: 16.32%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-family: Arial;">491.9</div>
        </td>
        <td style="width: 15.37%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-family: Arial;">0.1</div>
        </td>
      </tr>
      <tr>
        <td style="width: 52.04%; vertical-align: middle; border-right: 2px solid rgb(0, 0, 0);">
          <div style="font-family: Arial;">Long-term debt, net of current portion</div>
        </td>
        <td style="width: 16.27%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-family: Arial;">157,291.8</div>
        </td>
        <td style="width: 16.32%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-family: Arial;">120,444.7</div>
        </td>
        <td style="width: 15.37%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-family: Arial;">36,847.1</div>
        </td>
      </tr>
      <tr>
        <td style="width: 52.04%; vertical-align: middle; border-right: 2px solid rgb(0, 0, 0);">
          <div style="margin-left: 22.05pt; font-weight: bold; font-family: Arial;">Total debt <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
        </td>
        <td style="width: 16.27%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-weight: bold; font-family: Arial;">157,783.8</div>
        </td>
        <td style="width: 16.32%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-weight: bold; font-family: Arial;">120,936.6</div>
        </td>
        <td style="width: 15.37%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-weight: bold; font-family: Arial;">36,847.2</div>
        </td>
      </tr>
      <tr>
        <td style="width: 52.04%; vertical-align: middle; border-right: 2px solid rgb(0, 0, 0);">
          <div style="font-family: Arial;">Current portion of lease liabilities</div>
        </td>
        <td style="width: 16.27%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-family: Arial;">1,471.7</div>
        </td>
        <td style="width: 16.32%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-family: Arial;">1,257.8</div>
        </td>
        <td style="width: 15.37%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-family: Arial;">213.9</div>
        </td>
      </tr>
      <tr>
        <td style="width: 52.04%; vertical-align: middle; border-right: 2px solid rgb(0, 0, 0);">
          <div style="font-family: Arial;">Long-term lease liabilities, net of current portion</div>
        </td>
        <td style="width: 16.27%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-family: Arial;">9,155.8</div>
        </td>
        <td style="width: 16.32%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-family: Arial;">8,105.8</div>
        </td>
        <td style="width: 15.37%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-family: Arial;">1,050.0</div>
        </td>
      </tr>
      <tr>
        <td style="width: 52.04%; vertical-align: middle; border-right: 2px solid rgb(0, 0, 0);">
          <div style="text-align: justify; margin-left: 22.05pt; font-weight: bold; font-family: Arial;">Total lease liabilities</div>
        </td>
        <td style="width: 16.27%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-weight: bold; font-family: Arial;">10,627.5</div>
        </td>
        <td style="width: 16.32%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-weight: bold; font-family: Arial;">9,363.6</div>
        </td>
        <td style="width: 15.37%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-weight: bold; font-family: Arial;">1,263.9</div>
        </td>
      </tr>
      <tr>
        <td style="width: 52.04%; vertical-align: middle; border-right: 2px solid rgb(0, 0, 0);">
          <div style="font-family: Arial;">Current portion of other notes payable</div>
        </td>
        <td style="width: 16.27%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-family: Arial;">-</div>
        </td>
        <td style="width: 16.32%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-family: Arial;">1,324.1</div>
        </td>
        <td style="width: 15.37%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-family: Arial;">(1,324.1)</div>
        </td>
      </tr>
      <tr>
        <td style="width: 52.04%; vertical-align: middle; border-right: 2px solid rgb(0, 0, 0);">
          <div style="font-family: Arial;">Other notes payable, net of current portion</div>
        </td>
        <td style="width: 16.27%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-family: Arial;">-</div>
        </td>
        <td style="width: 16.32%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-family: Arial;">-</div>
        </td>
        <td style="width: 15.37%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-family: Arial;">&#160;-</div>
        </td>
      </tr>
      <tr>
        <td style="width: 52.04%; vertical-align: middle; border-right: 2px solid rgb(0, 0, 0);">
          <div style="margin-left: 22.05pt; font-weight: bold; font-family: Arial;">Total other notes payable</div>
        </td>
        <td style="width: 16.27%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-family: Arial;">-</div>
        </td>
        <td style="width: 16.32%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-weight: bold; font-family: Arial;">1,324.1</div>
        </td>
        <td style="width: 15.37%; vertical-align: middle;">
          <div style="text-align: right; margin-left: 22.5pt; font-weight: bold; font-family: Arial;">(1,324.1)</div>
        </td>
      </tr>
      <tr>
        <td style="width: 52.04%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
          <div style="margin-left: 22.05pt; font-weight: bold; font-family: Arial;">Total debt, lease liabilities and other notes payable</div>
        </td>
        <td style="width: 16.27%; vertical-align: middle; border-bottom: #000000 2px solid;">
          <div style="text-align: right; font-weight: bold; font-family: Arial;">168,411.3</div>
        </td>
        <td style="width: 16.32%; vertical-align: middle; border-bottom: #000000 2px solid;">
          <div style="text-align: right; margin-left: 22.5pt; font-weight: bold; font-family: Arial;">131,624.3</div>
        </td>
        <td style="width: 15.37%; vertical-align: middle; border-bottom: #000000 2px solid;">
          <div style="text-align: right; margin-left: 22.5pt; font-weight: bold; font-family: Arial;">36,787.0</div>
        </td>
      </tr>

  </table>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; font-size: 8pt; font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"><font style="font-weight: normal; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">1</font></sup> As of
    March 31, 2020 and December 31, 2019, total debt is presented net of finance costs in the amount of Ps.1,467.4 million and Ps.1,441.6 million, respectively, and does not include related accrued interest payable in the amount of Ps.2,206.9 million and
    Ps.1,943.9 million, respectively.</div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; font-family: Arial;">As of March 31, 2020, our consolidated net debt position (total debt and lease liabilities less cash and cash equivalents, temporary investments, and certain non-current investments in financial
    instruments) was Ps.113,656.8 million. The aggregate amount of non-current investments in financial instruments included in our consolidated net debt position as of March 31, 2020, amounted to Ps.9,814.2 million.</div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; font-family: Arial;">On March 24, 2020, Televisa announced that it has drawn down Ps.14,771 million from its Revolving Credit Facility (the &#8220;Facility&#8221;) as a prudent and precautionary measure in order to increase its cash
    position and preserve financial flexibility in light of current uncertainty in the global and local markets resulting from the COVID-19 outbreak. The Facility is scheduled to mature on March 26, 2022.</div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: left; font-weight: bold; font-family: Arial;">Radi&#243;polis</div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; font-family: Arial;">In March 2020, we entered into a settlement agreement with the acquirer of the Radio business to complete this transaction whereby we agreed, among other things, to modify the payment terms of the
    purchase price. We received Ps.603.4 million in cash in March 2020, and the remaining amount of Ps.644.6 million is expected by June 2020. While the sale of our 50% equity interest in the Radio business has been consummated for legal and tax purposes
    as of December 31, 2019, this transaction is considered as held for sale for financial reporting purposes as of March 31, 2020.</div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify;"> <font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify;"> <font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
    <div id="DSPFPageNumberArea" style="text-align: right;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-weight: normal; font-style: normal;">10</font></div>
    <div style="page-break-after: always;" id="DSPFPageBreak">
      <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
  </div>
  <div style="text-align: justify;"> <font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify;">
    <div style="text-align: left; font-weight: bold; font-family: Arial;">Shares Outstanding</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div style="font-family: Arial;">As of March 31, 2020 and December 31, 2019, our shares outstanding amounted to 330,060.7 million and 337,244.3 million shares, respectively, and our CPO equivalents outstanding amounted to 2,821.0 million and 2,882.4
      million CPO equivalents, respectively. Not all of our shares are in the form of CPOs. The number of CPO equivalents is calculated by dividing the number of shares outstanding by 117.</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div style="font-family: Arial;">As of March 31, 2020 and December 31, 2019, the GDS (Global Depositary Shares) equivalents outstanding amounted to 564.2 million and 576.5 million GDS equivalents, respectively. The number of GDS equivalents is
      calculated by dividing the number of CPO equivalents by five.</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div style="text-align: left; font-weight: bold; font-family: Arial;">Sustainability</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div style="font-family: Arial;">During first quarter 2020, Televisa was included in three indices of the FTSE4Good Index Series: FTSE4Good Emerging Markets, FTSE4Good Emerging Latin America, and FTSE4Good BIVA. This is the fourth consecutive year
      Televisa has been included in the FTSE4Good Index Series. In addition, for a third consecutive year, Televisa was recognized with the Socially Responsible Company award (Empresa Socialmente Responsable ESR) granted by the Mexican Center for
      Philanthropy (Centro Mexicano para la Filantrop&#237;a or CEMEFI) and the Alliance for Corporate Social Responsibility (Alianza por la Responsabilidad Social Empresarial or AliaRSE).</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div style="text-align: left; font-weight: bold; font-family: Arial;">COVID-19 Impact</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div style="font-family: Arial;">The COVID-19 pandemic has affected our business, financial position and results of operations for the first quarter ended March 31, 2020, and it is currently difficult to predict the degree of the impact on the second
      quarter and the remainder of 2020.</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div style="font-family: Arial;">We cannot guarantee that conditions in the bank lending, capital and other financial markets will not continue to deteriorate as a result of the pandemic, or that our access to capital and other sources of funding will
      not become constrained, which could adversely affect the availability and terms of future borrowings, renewals or refinancings. In addition, the deterioration of global economic conditions as a result of the pandemic may ultimately reduce the demand
      of our products across our segments as our clients and customers reduce or defer their spending.</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div style="font-family: Arial;">The social distancing, shelter-in-place and other policies to limit the spread of the COVID-19 pandemic that have been implemented or recommended by governmental entities in Mexico and other areas around the world have
      been affecting the ability of our employees, suppliers and customers to conduct their functions and businesses in their typical manner. The Mexican Government has ordered the suspension of all non-essential economic activities from March 30, 2020
      through May 30, 2020 for most parts of Mexico, including the largest metropolitan areas. Media and telecommunications are not included in the suspension as they are considered essential economic activities. We have continued operating our essential
      businesses uninterrupted to continue benefiting the country with connectivity, entertainment and information, while also promoting the &#8220;stay at home&#8221; policy whenever possible, in order to take safety and cautionary measures for our employees. Our
      "Stay at home with Televisa" action plan aims to provide a comprehensive solution for two basic society member groups: audiences and brands. The policy promotes solidarity and support through promoting serenity, entertainment, and social union.</div>
  </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify;"> <font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify;"> <font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
    <div id="DSPFPageNumberArea" style="text-align: right;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-weight: normal; font-style: normal;">11</font></div>
    <div style="page-break-after: always;" id="DSPFPageBreak">
      <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
  </div>
  <div style="text-align: justify;"> <font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify;">
    <div style="font-family: Arial;">Our Content business has seen a reduction in the demand for advertising during the quarter ended March 31, 2020, which may continue to be affected by the reduction in the level of economic activity in the jurisdictions
      in which our customers are located. We are partially dependent on the demand for advertising from consumer-focused companies, and the COVID-19 pandemic has caused, and could further cause, advertisers to reduce, postpone or, in a few cases, eliminate
      their advertisement spending on our platforms.&#160; In addition, much of our production of new content has been curtailed or suspended in response to social distancing and shutdown requirements and health guidelines.</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div style="font-family: Arial;">In our Other Businesses segment, sporting and other entertainment events for which we have broadcast rights, or which we organize, promote and/or are located in venues we own, have been cancelled or postponed. Moreover,
      local authorities have enacted several rules pursuant to which they have instructed the temporary closing of non-essential businesses, including casinos, and as a result our gaming operations have been suspended until the cancellations of
      governmental measures imposed in the regions where our casinos are located.</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div style="font-family: Arial;">The magnitude of the impact on our business will depend on the duration and extent of the COVID-19 pandemic and the impact of federal, state, local and foreign governmental actions, including continued or future social
      distancing, and consumer behavior in response to the COVID-19 pandemic and such governmental actions. Due to the evolving and uncertain nature of this situation, we are not able to estimate the full extent of the impact of the COVID-19 pandemic, but
      it may continue affecting our business, financial position and results of operations over the near, medium or long-term.</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div style="text-align: left; font-weight: bold; font-family: Arial;">Additional Information Available on Website</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
    <div style="font-family: Arial;">The information in this press release should be read in conjunction with the financial statements and footnotes contained in the Company's Annual Report and on Form 20-F for the year ended December 31, 2019, which will
      be posted on the &#8220;Reports and Filings&#8221; section of our investor relations website at televisair.com when filed with the Comisi&#243;n Nacional Bancaria y de Valores and the Securities and Exchange Commission, respectively.</div>
    <div><font style="font-family: Arial;"><br>
      </font> </div>
  </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify;"> <font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageNumberArea" style="text-align: right;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-weight: normal; font-style: normal;">12</font></div>
    <div id="DSPFPageBreak" style="page-break-after: always;">
      <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
  </div>
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    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; font-family: Arial;"><font style="font-weight: bold;">About Televisa</font></div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify;">
    <div style="line-height: 10.25pt; margin-bottom: 10pt; font-family: 'Times New Roman',Times,serif; font-style: italic;">
      <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif; font-style: italic;">
        <div style="font-family: Arial; font-style: italic;">Televisa is a leading media company in the Spanish-speaking world, an important cable operator in Mexico and an operator of a leading direct-to-home satellite pay television system in Mexico.
          Televisa distributes the content it produces through several broadcast channels in Mexico and in over 70 countries through 25 pay-tv brands, television networks, cable operators and over-the-top or &#8220;OTT&#8221; services. In the United States, Televisa&#8217;s
          audiovisual content is distributed through Univision Communications Inc. (&#8220;Univision&#8221;) the leading media company serving the Hispanic market. Univision broadcasts Televisa&#8217;s audiovisual content through multiple platforms in exchange for a royalty
          payment. In addition, Televisa has equity and warrants which upon their exercise would represent approximately 36% on a fully-diluted, as-converted basis of the equity capital in Univision Holdings, Inc., the controlling company of Univision.
          Televisa&#8217;s cable business offers integrated services, including video, high-speed data and voice services to residential and commercial customers as well as managed services to domestic and international carriers. Televisa owns a majority
          interest in Sky, a leading direct-to-home satellite pay television system and broadband provider in Mexico, operating also in the Dominican Republic and Central America. Televisa also has interests in magazine publishing and distribution,
          professional sports and live entertainment, feature- film production and distribution, and gaming.</div>
      </div>
    </div>
  </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; font-family: Arial;"><font style="font-weight: bold;">Disclaimer</font></div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify;">
    <div style="line-height: 10.25pt; margin-bottom: 10pt; font-family: 'Times New Roman',Times,serif; font-style: italic;">
      <div style="text-align: left; line-height: 11.4pt; margin-bottom: 10pt; font-family: 'Times New Roman', serif; font-style: italic;">
        <div style="margin-bottom: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">
          <div style="margin-bottom: 10pt; font-style: italic; font-family: Arial;">This press release contains forward-looking statements regarding the Company&#8217;s results and prospects. Actual results could differ materially from these statements. The
            forward-looking statements in this press release should be read in conjunction with the factors described in &#8220;Item 3. Key Information &#8211; Forward Looking Statements&#8221; in the Company&#8217;s Annual Report on Form 20 - F, which, among others, could cause
            actual results to differ materially from those contained in forward-looking statements made in this press release and in oral statements made by authorized officers of the Company. Statements contained in this release relating to the COVID-19
            outbreak, the impact of which on our business performance and financial results remains inherently uncertain, are forward-looking statements.&#160; Readers are cautioned not to place undue reliance on these forward-looking statements, which speak
            only as of their dates. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.</div>
        </div>
      </div>
    </div>
  </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; font-family: Arial;"><font style="font-style: italic;">(Please see attached tables for financial information and ratings data)</font></div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-weight: bold; font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> <font style="font-weight: bold;"> </font> </font>
  <div style="text-align: center; font-weight: bold; font-family: Arial;"><font style="font-style: italic;">###</font></div>
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    </font> </div>
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    </font> </div>
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    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: center; font-family: Arial;"><font style="font-size: 14pt; font-weight: bold;">Contact Information</font></div>
  <font style="font-family: Arial;"> </font>
  <div><font style="font-family: Arial;"><br>
    </font> </div>
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    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: center; line-height: 12.55pt; font-weight: bold; font-family: Arial;">Investor Relations</div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: center; line-height: 12.55pt; font-family: Arial;"><u>www.televisair.com.mx</u></div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: center; line-height: 12.55pt; font-family: Arial;">Tel: (52 55) 5261 2445</div>
  <font style="font-family: Arial;"> </font>
  <div style="line-height: 12.55pt;"><font style="font-family: Arial;"><br style="line-height: 12.55pt;">
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: center; line-height: 12.55pt; font-family: Arial;">Carlos Madrazo. VP, Head of Investor Relations <u>cmadrazov@televisa.com.mx</u></div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: center; line-height: 12.55pt; font-family: Arial;">Santiago Casado. Investor Relations Director. <u>scasado@televisa.com.mx</u></div>
  <font style="font-family: Arial;"> </font>
  <div style="line-height: 12.55pt;"><font style="font-family: Arial;"><br style="line-height: 12.55pt;">
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: center; line-height: 12.55pt; font-weight: bold; font-family: Arial;">Media Relations:</div>
  <font style="font-family: Arial;"> </font>
  <div style="line-height: 12.55pt;"><font style="font-family: Arial;"><br style="line-height: 12.55pt;">
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: center; line-height: 11.4pt; font-family: Arial;">Rub&#233;n Acosta / Tel: (52 55) 5224 6420 / <u>racostamo@televisa.com.mx</u></div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: center; line-height: 11.4pt; font-family: Arial;">Teresa Villa / Tel: (52 55) 4438 1205 / <u>atvillas@televisa.com.mx</u></div>
  <font style="font-family: Arial;"> </font>
  <div style="line-height: 11.4pt;"><font style="font-family: Arial;"><br style="line-height: 11.4pt;">
    </font> </div>
  <font style="font-family: Arial;"> </font>
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    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageNumberArea" style="text-align: right;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-weight: normal; font-style: normal;">13</font></div>
    <div id="DSPFPageBreak" style="page-break-after: always;">
      <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
  </div>
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    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: center; line-height: 13.1pt; font-family: Arial; font-weight: bold;">GRUPO TELEVISA, S.A.B.</div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: center; line-height: 13.1pt; font-family: Arial; font-weight: bold;">CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION</div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: center; line-height: 13.1pt; font-family: 'Times New Roman', serif; font-weight: bold;"><font style="font-family: Arial;">AS OF MARCH 31, 2020 AND DECEMBER 31, 2019<br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: center; line-height: 11.4pt; margin-bottom: 10pt; font-family: Arial; font-weight: bold;">(Millions of Mexican Pesos)</div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: center; line-height: 11.4pt; margin-bottom: 10pt; font-family: 'Times New Roman',serif; font-weight: bold;"> <font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: left; line-height: 11.4pt; margin-bottom: 10pt; font-family: 'Times New Roman',serif; font-weight: bold;">
    <table cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;" id="z712026cda4e74ad1b77d6c9fe4d51090">

        <tr>
          <td valign="bottom" style="vertical-align: top; font-family: Arial;">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: top;" colspan="2">
            <div style="text-align: center; font-family: Arial; font-size: 8pt;">March 31,</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: top;" colspan="2">
            <div style="text-align: center; font-family: Arial; font-size: 8pt;">December 31,</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; font-family: Arial;">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: top;" colspan="2">
            <div style="text-align: center; font-family: Arial; font-size: 8pt;"> 2020</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: top;" colspan="2">
            <div style="text-align: center; font-family: Arial; font-size: 8pt;">2019</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">
            <div style="text-indent: 76.55pt; font-family: Arial; font-size: 8pt; font-weight: bold;">ASSETS</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: Arial; font-size: 8pt;">(Unaudited)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: Arial; font-size: 8pt;">(Audited)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; font-family: Arial;">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: top; font-family: Arial;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: top; font-family: Arial;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top;">
            <div style="font-family: Arial; font-size: 8pt;">Current assets:</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: top; font-family: Arial;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: top; font-family: Arial;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Cash and cash equivalents</div>
          </td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">Ps.</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">44,940.3</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">Ps.</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">27,452.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Trade notes and accounts receivable, net</div>
          </td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">20,749.1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">14,486.2</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Other accounts and notes receivable, net</div>
          </td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">12,518.7</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">10,692.8</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Derivative financial instruments</div>
          </td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">2,257.6</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">1.7</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Due from related parties</div>
          </td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">816.9</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">814.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Transmission rights and programming</div>
          </td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">5,327.9</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">6,479.3</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Inventories</div>
          </td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">1,115.7</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">1,151.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Contract costs</div>
          </td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">1,406.1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">1,379.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Assets held for sale</div>
          </td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">2,427.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">2,369.7</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px;">
            <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Other current assets</div>
          </td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">4,587.2</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">3,298.1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px;">
            <div style="text-indent: 49.9pt; font-family: Arial; font-size: 8pt;">Total current assets</div>
          </td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">96,146.9</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">68,125.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; font-family: Arial;">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="font-family: Arial; font-size: 8pt;">Non-current assets:</div>
          </td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Derivative financial instruments</div>
          </td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">0.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">2.9</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Transmission rights and programming</div>
          </td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">8,765.2</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">7,901.6</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Investments in financial instruments</div>
          </td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">30,791.3</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">44,265.8</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Investments in associates and joint ventures</div>
          </td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">5,894.6</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">9,068.5</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Property, plant and equipment, net</div>
          </td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">83,329.5</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">83,329.2</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Right-of-use assets</div>
          </td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">7,477.7</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">7,553.1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Intangible assets, net</div>
          </td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">43,033.1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">43,329.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Deferred income tax assets</div>
          </td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">31,391.7</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">24,185.1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Contract costs</div>
          </td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">2,473.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">2,311.8</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px;">
            <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Other assets</div>
          </td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">159.2</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">271.8</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px;">
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          </td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">213,316.1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">222,218.8</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 4px;">
            <div style="text-indent: 49.9pt; font-family: Arial; font-size: 8pt;">Total assets</div>
          </td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">Ps.</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">309,463.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">Ps.</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">290,343.8</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; font-family: Arial;">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        </tr>

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  </div>
  <font style="font-family: Arial;"> </font>
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  <div style="text-align: left;"><font style="font-family: Arial;"><br>
    </font><font style="font-family: Arial;"><br>
    </font> </div>
  <font style="font-family: Arial;"> </font>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageNumberArea" style="text-align: right;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-weight: normal; font-style: normal;">14</font></div>
    <div id="DSPFPageBreak" style="page-break-after: always;">
      <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
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  <div style="text-align: center; font-family: Arial;"><font style="font-weight: bold;"> <br>
    </font></div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: center; line-height: 11.4pt; font-family: Arial; font-weight: bold;">GRUPO TELEVISA, S.A.B.</div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: center; line-height: 11.4pt; font-family: Arial; font-weight: bold;">CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION</div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: center; line-height: 11.4pt; font-family: Arial; font-weight: bold;">AS OF MARCH 31, 2020 AND DECEMBER 31, 2019</div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: center; line-height: 11.4pt; font-family: Arial; font-weight: bold;">(Millions of Mexican Pesos)</div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: center; font-family: Arial;"><font style="font-weight: bold;"> <br>
    </font></div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: left; font-family: Arial;"><font style="font-weight: bold;"> <br>
    </font></div>
  <font style="font-family: Arial;"> <br>
  </font>
  <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;" id="zdb8dc4a43d8b4c1f92db00d5ebb62503">

      <tr>
        <td valign="bottom" style="vertical-align: top; font-family: Arial;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: top;" colspan="2">
          <div style="text-align: center; font-family: Arial; font-size: 8pt;">March 31,</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: top;" colspan="2">
          <div style="text-align: center; font-family: Arial; font-size: 8pt;">December 31,</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="vertical-align: top; font-family: Arial;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: top;" colspan="2">
          <div style="text-align: center; font-family: Arial; font-size: 8pt;"> 2020</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: top;" colspan="2">
          <div style="text-align: center; font-family: Arial; font-size: 8pt;">2019</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">
          <div style="text-indent: 76.55pt; font-family: Arial; font-size: 8pt; font-weight: bold;">LIABILITIES</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
          <div style="text-align: center; font-family: Arial; font-size: 8pt;">(Unaudited)</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
          <div style="text-align: center; font-family: Arial; font-size: 8pt;">(Audited)</div>
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        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="vertical-align: top; font-family: Arial;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: top; font-family: Arial;" colspan="2">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: top; font-family: Arial;" colspan="2">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top;">
          <div style="font-family: Arial; font-size: 8pt;">Current liabilities:</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: top; font-family: Arial;" colspan="2">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: top; font-family: Arial;" colspan="2">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%;">
          <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Current portion of long-term debt and interest payable</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">Ps.</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">2,698.9</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">Ps.</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">2,435.8</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%;">
          <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Current portion of lease liabilities</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">1,471.7</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">1,257.8</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%;">
          <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Current portion of other notes payable</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">-</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">1,324.1</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%;">
          <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Derivative financial instruments</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">-</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">568.8</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%;">
          <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Trade accounts payable and accrued expenses</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">24,341.9</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">20,909.7</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%;">
          <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Customer deposits and advances</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">11,696.5</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">5,779.8</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%;">
          <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Other advances</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">602.8</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">-</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%;">
          <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Income taxes payable</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">1,933.2</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">2,470.2</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%;">
          <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Other taxes payable</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">4,430.8</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">3,448.0</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%;">
          <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Employee benefits</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">873.5</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">911.9</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%;">
          <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Due to related parties</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">415.5</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">644.2</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%;">
          <div style="text-indent: 28.35pt; font-family: Arial; font-size: 8pt;">Liabilities related to assets held for sale</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">415.0</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">432.8</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px;">
          <div style="text-indent: 28.35pt; font-family: Arial; font-size: 8pt;">Other current liabilities</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">2,377.0</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">2,202.8</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px;">
          <div style="text-indent: 49.65pt; font-family: Arial; font-size: 8pt;">Total current liabilities</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">51,256.8</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">42,385.9</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%;">
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        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%;">
          <div style="text-indent: 28.35pt; font-family: Arial; font-size: 8pt;">Long-term debt, net of current portion</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">157,291.8</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">120,444.7</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%;">
          <div style="text-indent: 28.35pt; font-family: Arial; font-size: 8pt;">Lease liabilities, net of current portion</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">9,155.8</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">8,105.8</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%;">
          <div style="text-indent: 28.35pt; font-family: Arial; font-size: 8pt;">Derivative financial instruments</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">651.1</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">346.6</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%;">
          <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Income taxes payable</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">753.8</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">1,759.7</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%;">
          <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Deferred income tax liabilities</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">3,362.9</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">7,052.2</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%;">
          <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Post-employment benefits</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">1,517.6</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">1,468.1</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px;">
          <div style="text-indent: 28.6pt; font-family: Arial; font-size: 8pt;">Other long-term liabilities</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">3,542.8</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">3,376.6</div>
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        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px;">
          <div style="text-indent: 49.65pt; font-family: Arial; font-size: 8pt;">Total non-current liabilities</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">176,275.8</div>
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        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">142,553.7</div>
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        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px;">
          <div style="text-indent: 49.65pt; font-family: Arial; font-size: 8pt;">Total liabilities</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">227,532.6</div>
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        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">184,939.6</div>
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        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%; font-family: Arial;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%;">
          <div style="text-indent: 92.15pt; font-family: Arial; font-size: 8pt; font-weight: bold;">EQUITY</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%;">
          <div style="font-family: Arial; font-size: 8pt;">Capital stock</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">4,907.8</div>
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        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">4,907.8</div>
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        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px;">
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">15,889.8</div>
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        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">15,889.8</div>
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        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px; font-family: Arial;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">20,797.6</div>
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        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">20,797.6</div>
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        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%;">
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%;">
          <div style="text-indent: 28.35pt; font-family: Arial; font-size: 8pt;">Legal reserve</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">2,139.0</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">2,139.0</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%;">
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        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">80,496.0</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">75,666.1</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px;">
          <div style="text-indent: 28.35pt; font-family: Arial; font-size: 8pt;">Net (loss) income for the period</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">(9,651.9</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">)</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">4,626.1</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%; font-family: Arial;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">72,983.1</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">82,431.2</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%;">
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        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">(13,507.2</div>
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        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">)</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">1,320.4</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px;">
          <div style="font-family: Arial; font-size: 8pt;">Shares repurchased</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">(14,214.4</div>
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        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">)</div>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">(14,018.8</div>
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        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">)</div>
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      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px; font-family: Arial;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">45,261.5</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">69,732.8</div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%;">
          <div style="text-indent: 35.45pt; font-family: Arial; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;Equity attributable to stockholders of the Company</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">66,059.1</div>
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        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">90,530.4</div>
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        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px;">
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        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">15,871.3</div>
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        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">14,873.8</div>
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        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px;">
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        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">81,930.4</div>
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        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">105,404.2</div>
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        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 4px;">
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; font-family: Arial;" colspan="1">&#160;</td>
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        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">309,463.0</div>
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        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">Ps.</div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
          <div style="font-family: Arial; font-size: 8pt;">290,343.8</div>
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        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; font-family: Arial;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: top; width: 76%; font-family: Arial;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; font-family: Arial;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
      </tr>

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    <div id="DSPFPageNumberArea" style="text-align: right;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-weight: normal; font-style: normal;">15</font></div>
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  <div style="text-align: center; line-height: 11.4pt; font-family: Arial; font-weight: bold;">GRUPO TELEVISA, S.A.B.</div>
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  <div style="text-align: center; line-height: 11.4pt; font-family: Arial; font-weight: bold;">&#160;THREE MONTHS ENDED MARCH 31, 2020 AND 2019</div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: center; line-height: 11.4pt; font-family: Arial; font-weight: bold;">(Millions of Mexican Pesos)</div>
  <font style="font-family: Arial;"> </font>
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  <div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;" id="z32c157018a3f4e2db037674f7d1a3d2a">

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          <td valign="bottom" style="vertical-align: top; font-family: Arial;">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: top;" colspan="6">
            <div style="text-align: center; font-family: Arial; font-size: 8pt;">Three months ended March 31,</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: top; font-family: Arial;">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: top;" colspan="2">
            <div style="text-align: center; font-family: Arial; font-size: 8pt;"> 2020</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: top;" colspan="2">
            <div style="text-align: center; font-family: Arial; font-size: 8pt;"> 2019</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; padding-bottom: 2px; font-family: Arial;">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: Arial; font-size: 8pt;">(Unaudited)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; font-family: Arial; font-size: 8pt;">(Unaudited)</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: top; font-family: Arial;">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: top; font-family: Arial;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: top; font-family: Arial;" colspan="2">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: Arial;" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%;">
            <div style="font-family: Arial; font-size: 8pt;">Net sales</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">Ps.</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">23,228.8</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">Ps.</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">23,395.2</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%;">
            <div style="font-family: Arial; font-size: 8pt;">Cost of sales</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">13,738.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">13,264.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%;">
            <div style="font-family: Arial; font-size: 8pt;">Selling expenses</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">2,718.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">2,764.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px;">
            <div style="font-family: Arial; font-size: 8pt;">Administrative expenses</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">3,631.1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">3,707.5</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%;">
            <div style="text-indent: 21.55pt; font-family: Arial; font-size: 8pt;">Income before other income or expense</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">3,141.7</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">3,659.3</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px;">
            <div style="font-family: Arial; font-size: 8pt;">Other income (expense), net</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">284.9</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">(188.9</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px;">
            <div style="text-indent: 21.25pt; font-family: Arial; font-size: 8pt;">Operating income</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">3,426.6</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">3,470.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%;">
            <div style="font-family: Arial; font-size: 8pt;">Finance expense</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">(11,129.6</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">)</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">(2,709.6</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px;">
            <div style="font-family: Arial; font-size: 8pt;">Finance income</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">2,422.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">435.5</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px;">
            <div style="text-indent: 21.25pt; font-family: Arial; font-size: 8pt;">Finance expense, net</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">(8,707.6</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">)</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">(2,274.1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px;">
            <div style="font-family: Arial; font-size: 8pt;">Share of (loss) income of associates and joint</div>
            <div style="text-indent: 14.15pt; font-family: Arial; font-size: 8pt;">ventures, net</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">(5,348.6</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">)</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">165.8</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%;">
            <div style="text-indent: 21.25pt; font-family: Arial; font-size: 8pt;">(Loss) income before income taxes</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">(10,629.6</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">)</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">1,362.1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; font-family: Arial;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px;">
            <div style="font-family: Arial; font-size: 8pt;">Income tax benefit (expense)</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">1,725.9</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">(504.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">
            <div style="font-family: Arial; font-size: 8pt;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px;">
            <div style="text-indent: 21.25pt; font-family: Arial; font-size: 8pt;">Net (loss) income</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; font-family: Arial;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1">
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
