Grupo Televisa : Description Report of Foreign Issuer

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON , D.C. 20549

FORM 6-K

REPORT OF FOREIGN ISSUER PURSUANT TO RULES 13a-16 or 15d - 16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of May, 2019

GRUPO TELEVISA, S.A.B.

(Translation of registrant's name into English)

Av. Vasco de Quiroga No. 2000, Colonia Santa Fe 01210, Mexico City, Mexico

(Address of principal executive offices)

(Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.)

Form 20-FxForm 40-F

( Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1). )

Yes

No

x

( Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7). )

Yes		No	x

TLEVISA		Consolidated
Ticker:	TLEVISA	Quarter: 1 Year: 2019

Quarterly Financial Information

[105000] Management commentary	2
[110000]	General information about financial statements	12
[210000]	Statement of financial position, current/non-current	14
[310000]	Statement of comprehensive income, profit or loss, by function of expense	16
[410000] Statement of comprehensive income, OCI components presented net of tax	17
[520000]	Statement of cash flows, indirect method	19
[610000] Statement of changes in equity - Accumulated Current	21
[610000] Statement of changes in equity - Accumulated Previous	24
[700000]	Informative data about the Statement of financial position	27
[700002] Informative data about the Income statement	28
[700003] Informative data - Income statement for 12 months	29
[800001] Breakdown of credits	30
[800003]	Annex - Monetary foreign currency position	32
[800005]	Annex - Distribution of income by product	33
[800007]	Annex - Financial derivative instruments	34
[800100]	Notes - Subclassifications of assets, liabilities and equities	40
[800200] Notes - Analysis of income and expense	44
[800500]	Notes - List of notes	45
[800600]	Notes - List of accounting policies	61
[813000]	Notes - Interim financial reporting	76
Footnotes	96
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[105000] Management commentary

Management commentary

Mexico City, April 29, 2019 - Grupo Televisa, S.A.B. (NYSE:TV; BMV: TLEVISA CPO; "Televisa" or "the Company"), today announced results for first-quarter 2019. The results have been prepared in accordance with International Financial Reporting Standards ("IFRS").

The following table sets forth condensed consolidated statements of income for the quarters ended March 31, 2019 and 2018, in millions of Mexican pesos:

	1Q'19	Margin %	1Q'18	Margin %	Change %
Net sales	23,395.2	100.0	22,812.0	100.0	2.6
Net income	858.1	3.7	994.9	4.4	(13.8)
Net income attributable to stockholders of the Company	541.7	2.3	677.6	3.0	(20.1)
Segment net sales	24,624.9	100.0	23,821.7	100.0	3.4
Operating segment income (1)	9,406.4	38.2	9,130.8	38.3	3.0

(1)The operating segment income margin is calculated as a percentage of segment net sales.

Net sales increased by 2.6% to Ps.23,395.2 million in first-quarter 2019 compared with Ps.22,812.0 million in first-quarter 2018. This increase was mainly attributable to revenue growth in the Cable segment. Operating segment income increased by 3.0%, reaching Ps.9,406.4 million with a margin of 38.2%, in line with previous year.

Net income attributable to stockholders of the Company decreased to Ps.541.7 million in first-quarter 2019 compared to Ps.677.6 million in first-quarter 2018. The net decrease of Ps.135.9 million, or 20.1%, reflected primarily (i) a Ps.415.2 increase in depreciation and amortization; and (ii) a Ps.73.4 million increase in finance expense, net. These unfavorable variances were partially offset by a Ps.296.2 million increase in operating income before depreciation and amortization and other expense, net.

Disclosure of nature of business

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 75 countries through 26 pay-tv brands, television networks, cable operators and over-the-top or "OTT" services. In the United States, Televisa's audiovisual content is distributed through Univision Communications Inc. ("Univision") the leading media company serving the Hispanic market. Univision broadcasts Televisa'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'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, radio production and broadcasting, professional sports and live entertainment, feature- film production and distribution, and gaming.

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Disclosure of management's objectives and its strategies for meeting those objectives

We intend to leverage our position as a leading media company in the Spanish-speaking world to continue expanding our business while maintaining profitability and financial discipline. We intend to do so by maintaining our leading position in the Mexican television market, by continuing to produce high quality programming and by improving our sales and marketing efforts while maintaining high operating margins and expanding our cable business.

By leveraging all our business segments and capitalizing on their synergies to extract maximum value from our content and our distribution channels, we also intend to continue expanding our cable business, increasing our international programming sales worldwide and strengthening our position in the growing U.S.- Hispanic market. We also intend to continue developing and expanding Sky, our DTH platform, and our cable businesses. We will continue to strengthen our position and will continue making additional investments, which could be substantial in size, in the DTH and cable industry in accordance with the consolidation of the cable market in Mexico, and we will also continue developing our publishing business and maintain our efforts to become an important player in the gaming industry.

We intend to continue to expand our business by developing new business initiatives and/or through business acquisitions and investments in Mexico, the United States and elsewhere. However, we continue to evaluate our portfolio of assets, in order to determine whether to continue plans to dispose of select non- core operations.

Disclosure of entity's most significant resources, risks and relationships

We expect to fund our operating cash needs during 2019, other than cash needs in connection with any potential investments and acquisitions, through a combination of cash from operations and cash on hand. We intend to finance our potential investments or acquisitions in 2019 through available cash from operations, cash on hand and/or borrowings. The amount of borrowings required to fund these cash needs in 2019 will depend upon the timing of such transactions and the timing of cash payments from advertisers under our advertising sales plan.

The investing public should consider the risks described as follows, as well as the risks described in "Key Information_Risk Factors" in the Company's Annual Report 2018, which are not the only risks the Company faces which will be posted on the of our investor relations website at televisair.com when filed with the Comisión Nacional Bancaria y de Valores. Risks and uncertainties unknown by the Company, as well as those that the Company currently considers as not relevant, could affect its operations and activities.

Risk Factors Related with Political Developments :

●Imposition of fines by regulators and other authorities could adversely affect our financial condition and results of operations

●Social Security Law

●Federal Labor Law

●Mexican tax laws

●Regulations of the General Health Law on advertising

●Weaknesses in internal controls over financial reporting

●Changes in U.S. tax law

●Mexican Securities Market Law

●Renewal or revocation of our concessions

Risk Factors Related to our Business:

●Control of a stockholder

●Measures for the prevention of the taking of control

●Competition

●Seasonal nature of our business

●Loss of transmission or loss of the use of satellite transponders

●Incidents affecting our network and information systems or other technologies

●Results of operations of UHI

●Uncertainty in global financial markets

●Renegotiation of Trade Agreements or other changes in foreign policy by the presidential administration in the United States

●Inflation Rates and High Interest Rates in Mexico

●Political events in Mexico

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Disclosure of results of operations and prospects

The following table presents first-quarter consolidated results ended March 31, 2019 and 2018, for each of our business segments. Consolidated results for first- quarter 2019 and 2018 are presented in millions of Mexican pesos.

Net Sales	1Q'19	%	1Q'18	%	Change %
Cable	9,898.1	40.2	8,669.7	36.4	14.2
Sky	5,281.6	21.4	5,474.2	23.0	(3.5)
Content	7,184.9	29.2	7,899.4	33.2	(9.0)
Other Businesses	2,260.3	9.2	1,778.4	7.4	27.1
Segment Net Sales	24,624.9	100.0	23,821.7	100.0	3.4
Intersegment Operations 1	(1,229.7)		(1,009.7)		(21.8)
Net Sales	23,395.2		22,812.0		2.6
Operating Segment Income 2	1Q'19	Margin %	1Q'18	Margin %	Change %
Cable	4,297.1	43.4	3,664.9	42.3	17.3
Sky	2,306.9	43.7	2,441.9	44.6	(5.5)
Content	2,267.3	31.6	2,820.1	35.7	(19.6)
Other Businesses	535.1	23.7	203.9	11.5	162.4
Operating Segment Income	9,406.4	38.2	9,130.8	38.3	3.0
Corporate Expenses	(516.1)	(2.1)	(551.7)	(2.3)	6.5
Depreciation and Amortization	(5,216.0)	(22.3)	(4,800.8)	(21.0)	(8.6)
Other Expense, net	(188.9)	(0.8)	(154.1)	(0.7)	(22.6)
Intersegment Operations 3	(15.0)	-	-		n/a
Operating Income	3,470.4	14.8	3,624.2	15.9	(4.2)

1For segment reporting purposes, intersegment operations are included in each of the segment operations.

2Operating segment income is defined as operating income before depreciation and amortization, corporate expenses, and other expense, net.

3As a result of IFRS 16 adoption, intersegment operations related to intercompany leases were not eliminated on the Operating Segment Income level as in prior years.

Cable

First-quartersales increased by 14.2% to Ps.9,898.1 million compared with Ps.8,669.7 million in first-quarter 2018 driven by solid net additions in voice and broadband.

Total revenue generating units, or RGUs, reached 12.1 million. Quarterly growth was driven by strong growth in broadband and voice net additions. Video RGUs were lower marginally by 9 thousand. Total net additions for the quarter were approximately 285 thousand.

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