Televisa Faces DOJ Probe Amid FIFA Bribery Scandal

Emilio Azcarraga, Televisa's executive chairman, is on administrative leave due to a U.S. Department of Justice investigation into the company's alleged bribery of FIFA officials. Televisa settled a lawsuit for $95 million, and the investigation could impact its financial status. The company's third-quarter results show mixed financial outcomes.

Emilio Azcarraga, the executive chairman of Televisa, has taken an administrative leave as part of a U.S. Department of Justice investigation into claims of bribery involving FIFA soccer officials. This action, announced by the Mexican broadcaster, will be effective immediately, according to Grupo Televisa's third-quarter results disclosure.

In 2023, Televisa settled a U.S. investor lawsuit for $95 million, addressing accusations of securing World Cup tournament rights through bribery. The company continues to cooperate with the investigation, while a Televisa spokesman has refrained from providing further details on the ongoing probe.

Despite these challenges, Televisa posted a notable financial turnaround, achieving a net profit of 666.5 million pesos in the third quarter. The results were driven by its joint venture with Univision, despite challenges faced by its satellite television and cable segments. The recent dismissal of Wade Davis as CEO further highlights leadership changes amid evolving business realities.

(With inputs from agencies.)