Operating Segment Income (OSI) Is Defined As Operating Income Before Corporate Expenses, Depreciation and Amortization

Today, Fundación Televisa (“Fundación”) reaches millions through Televisa’s media 2000 platforms and builds alliances with com- 2001 panies, non-governmental organizations, 2000 2002 and Mexico’s government and people. Al- 2002 liances play a key role in multiplying the social impact of Fundación’s work and telecommunications base funding. television contents innovation year innovation year 2005 2006 2004 2003 2005 2004 2003 In 2000, Televisa successfully refi- In 2007 Televisa celebrated 50 years of As of today, Televisa has nanced its debt, reducing borrow- producing its popular Telenovelas, capti- one of the largest telecom in- ing costs, extending maturities, vating audiences throughout the Spanish- frastructures in the country. and replacing a portion of its US- speaking world and beyond. Through its cable and telecom dollar-denominated indebtedness assets, it reaches several of the with inflation-adjusted indebted- Televisa launched Televisa most important cities in Mexi- ness. As a result of these steps, co with more than 6 million Televisa significantly improved Deportes Network (TDN) GRUPO TELEVISA ANNUAL 2010 REPORT 2001 homes passed2001 and has close its capital structure and reduced a decade to 50 thousand miles of fiber its currency risk. That same year, and coaxial cable around the at the Moody’s gave Televisa’s debt an country. FOREFRONT GRUPO TELEVISA 2010 ANNUAL REPORT investment-grade rating. FOREFRONT • FOREFRONT 2008 2007 2008 at the www.televisa.com decade a decade Televisa forefront www.televisair.com 2007 2009 Televisa will build the largest media company in 2010 on these milestones 2009 the Spanish-speaking world ANNUAL growing annual report decade in the coming years” 2006 a great year In 2006 Cablevisión completed the conversion TELEVISA SIGNS LANDMARK of its network from analog to digital format. AGREEMENT WITH UNIVISION This milestone enabled the company to pro- 2005 vide a host of new services and pay-TV offer- 2005 INVESTOR INFORMATION Common stock data Investor relations In the past decade, Televisa has achieved several CPOs (Certificados de Participación We ask that investors and Ordinarios) of Grupo Televisa, S.A.B., analysts direct all inquiries to: milestones that have enabled the Company comprise 117 shares each (25 Series to create value through the production and A Shares, 22 Series B Shares, 35 Series Grupo Televisa, S.A.B. Av. Vasco de Quiroga 2000 D Shares and 35 Series L Shares), and distribution of its content and to strengthen its C.P. 01210 México, D.F. are listed and admitted for trading on position as a leader in its industry. (5255) 5261-2445 the Mexican Stock Exchange (Bolsa [email protected] Mexicana de Valores, S.A.B. de C.V.), Today Televisa is well positioned to identify and under the ticker symbol TLEVISA CPO. www.televisa.com quickly respond to opportunities and events in the The GDRs (Global Depositary Receipts), www.televisair.com rapidly growing and ever-changing global media each representing five CPOs, are listed on the New York Stock Exchange and Corporate headquarters and telecommunications market. trade under the ticker symbol TV. Grupo Televisa, S.A.B. In the coming years, Televisa will build on these Dividend policy Av. Vasco de Quiroga 2000 milestones to continue benefiting its clients, C.P. 01210 México, D.F. Decisions regarding the payment (5255) 5261-2000 shareholders, employees, and the communities in and amount of dividends are subject to approval by a majority which it operates. Legal counsel of the Series A Shares and Series B Mijares, Angoitia, Cortés y Shares voting together, generally, Fuentes, S.C. by recommendation of the board of Montes Urales 505, 3er piso directors, as well as to the approval C.P. 11000 México, D.F. of a majority of the Series A Shares (5255) 5201-7400 voting separately. On March 25, 2004, the Company’s board of directors Fried, Frank, Harris, Shriver & approved a dividend payment policy Jacobson LLP pursuant to which the Company shall One New York Plaza pay an annual ordinary dividend of New York, New York 10004 COMPANY PROFILE Ps.0.35 per CPO. U.S.A. (212) 859-8000 Grupo Televisa, S.A.B., is the largest media company in the SEC filings Spanish-speaking world based on its market capitalization and Televisa files and submits annual reports Independent auditors a major participant in the international entertainment business. to the US Securities and Exchange PricewaterhouseCoopers, S.C. It has interests in television production and broadcasting, Commission. This annual report Mariano Escobedo 573 contains both historical information production of pay-television networks, international distribution C.P. 11580 México, D.F. and forward-looking statements. These of television programming, direct-to-home satellite services, (5255) 5263-6000 forward-looking statements, as well as cable television and telecommunication services, magazine other forward-looking statements made Depositary publishing and distribution, radio production and broadcasting, by the company, or its representatives professional sports and live entertainment, feature-film from time to time, whether orally or in The Bank of New York writing, involve risks and uncertainties BNY Mellon Shareowner production and distribution, the operation of a horizontal relating to the company’s businesses, Services internet portal, and gaming. operations, and financial condition. A PO Box 358516 summary of these risks is included in the Pittsburgh, PA 15252-8516 company’s filings with the US Securities (201) 680-6825 and Exchange Commission, and this summary as well as the other filings with and submissions to the US Securities and Exchange Commission, are and will be available through the office of CONTENTS investor relations upon written request. TELEVISA AT A GLANCE 02 / LETTER TO SHAREHOLDERS 04 / FINANCIAL HIGHLIGHTS 06 A DECADE AT THE FOREFRONT 08 / MANAGEMENT´S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 30 / BOARD OF DIRECTORS 40 / This annual report is available in both English and Spanish. April 2011. FINANCIAL STATEMENTS 41 Este informe anual está disponible tanto en español como en inglés. Abril 2011. Design: signi.com.mx II 1 TELEVISA AT A GLANCE TELEVISION PAY-TELEVISION PROGRAMMING SKY BROADCASTING NETWORKS EXPORTS The world’s leading Produces and Exports its programs Mexico’s leading producer of Spanish- distributes 18 pay-TV and formats to television direct-to-home satellite language television brands—15 owned networks around television system; also content, Televisa and 3 represented. the world. In the U.S., operates in Central operates four broadcast In the U.S., distributes distributes its content America and the channels—2, 4, 5, and its pay-TV channels through Univision Dominican Republic. 9—in Mexico through through Univision. under a recently 258 affiliated stations renewed and extended Contribution throughout the country. Contribution Programming License to Sales: 19% to Sales: 5% Agreement (PLA). Contribution Contribution Contribution Contribution to OSI:1 22% to OSI:1 7% to Sales: 5% to Sales: Demographic Produced Contribution expansion through % approximately 16 to OSI:1 7% new packages: 39 thousand hours of MiSky and VeTV. Contribution content in 2010 for The PLA, which was extended to at least More than one to OSI:1 46% pay-TV channels 2025, increases million subscribers Produced the royalties added in 2010. approximately 59 Televisa receives. Subscriber base: thousand hours of +26 In addition, the PLA now content in 2010 for million includes Televisa free-to-air television million pay-TV programming for 3 Average weekday all of Univision’s primetime subscribers audiovisual media audience platforms. share 70.5% 58 countries worldwide (approximate reach) 1Operating segment income (OSI) is defined as operating income before corporate expenses, depreciation and amortization. For a reconciliation of operating segment income with operating income, see Note 22 to our year-end consolidated financial statements. 22 3 CABLE AND PUBLISHING OTHER BUSINESSES UNCONSOLIDATED TELECOM BUSINESSES Cablevisión, Cablemás, The leading Spanish- TIM La Sexta (40.8%) and TVI offer pay-TV, language magazine Complete digital Free-to-air channel in Spain, voice, and data services publisher; produces 165 entertainment through which continues reporting in Mexico City, Monterrey, titles under 109 brands. several web portals. sustained audience and several cities in Mexico. share of 6.6% and strong Gaming Telecom company Bestel Contribution to operating performance. Bingo parlors and online provides data and long- Sales: 5% lottery business. distance services in Mexico Ocesa and the United States. Contribution Soccer teams Entretenimiento (40%) Live-entertainment to OSI:1 2% Three of Mexico’s Contribution to professional soccer teams. company in Mexico. Consolidated 2010 most popular event: Sales: 20% Azteca stadium restructuring process Paul McCartney concert. Mexico’s largest stadium. Contribution and returned to double- to OSI:1 17% digit Operating Segment Radio Income margin. Also, Network of 117 owned and Through its 20-year lease continued to expand affiliated radio stations. of dark fiber cable from the reach of its titles the Mexican Federal Elec- through digital platforms: Contribution tricity Commission (CFE), to Sales: 7% the consortium formed • caras.com.mx by Telefónica, Televisa, • vanidades.com and Megacable will offer alternative access to data • muyinteresante.com.mx transmission services. • tuenlinea.com.mx • esquirelat.com Cablevisión

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