Mexican mass media company Grupo Televisa has announced plans to spin off parts of its business, including ownership of Estadio Azteca and the Liga MX football team which plays in the stadium, Club América.
Televisa made the announcement yesterday (Thursday) as it published its financial results for the third quarter. The company said its board of directors has approved a reorganisation proposal to separate some interests that fall under its ‘Other Businesses’ segment, including the Mexico City-based Azteca and its football operations.
Televisa said it is expected that the proposed reorganisation is carried out through a spin-off of the company, creating a new controlling entity listed on the Mexican Stock Exchange that would hold the spun-off businesses, and that would have the same shareholding structure of Televisa.
It added: “Televisa considers that this plan will allow both the company, and the new entity resulting from the spin-off, to focus on their respective business models and growth opportunities, enhancing their ability to generate better conditions for access to capital, financing sources and investors, that are aligned with each business.”
It is expected that the reorganisation will be completed in the first half of next year, subject to several conditions, including compliance with applicable laws, as well as obtaining all required corporate and regulatory authorisations, and approval at a shareholders’ meeting.
First opened in 1966, the 87,500-capacity Azteca currently hosts the Mexican national team, along with Club América and Liga MX rival Cruz Azul. It is currently undergoing redevelopment work in readiness to stage games during the 2026 FIFA World Cup.
FIFA in June decided on the 16 cities that will host the 2026 World Cup in the United States, Mexico and Canada, with president Gianni Infantino outlining the goal that by the time of the tournament football will be “the No. 1 sport” across North America.
The announcement concluded a process which first started during the bidding stages for the national team showpiece with 44 cities and 49 stadia across the three countries. The first edition of the World Cup to feature 48 teams will take in three Mexican cities and venues – Guadalajara (Estadio Akron), Mexico City (Estadio Azteca) and Monterrey (Estadio BBVA Bancomer).