GRUPO TELEVISA, S.A.B. Form 20-F Filed 2017-04-28
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SECURITIES AND EXCHANGE COMMISSION FORM 20-F Annual and transition report of foreign private issuers pursuant to sections 13 or 15(d) Filing Date: 2017-04-28 | Period of Report: 2016-12-31 SEC Accession No. 0001104659-17-027953 (HTML Version on secdatabase.com) FILER GRUPO TELEVISA, S.A.B. Mailing Address Business Address AV VASCO DE QUIROGA AV VASCO DE QUIROGA CIK:912892| IRS No.: 000000000 | Fiscal Year End: 1231 2000 2000 Type: 20-F | Act: 34 | File No.: 001-12610 | Film No.: 17796538 COLONIA SANTA FE COLONIA SANTA FE SIC: 4833 Television broadcasting stations MEXICO, D.F. O5 01210 MEXICO, D.F. O5 01210 (5255) 52612000 Copyright © 2017 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F o REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended DECEMBER 31, 2016 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR o SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report . For the transition period from to Commission file number 1-12610 Grupo Televisa, S.A.B. (Exact name of Registrant as specified in its charter) N/A (Translation of Registrants name into English) United Mexican States (Jurisdiction of incorporation or organization) Av. Vasco de Quiroga No. 2000 Colonia Santa Fe 01210 Mexico City Mexico (Address of principal executive offices) Copyright © 2017 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Joaquín Balcárcel Santa Cruz Grupo Televisa, S.A.B. Av. Vasco de Quiroga No. 2000 Colonia Santa Fe 01210 Mexico City Mexico Telephone: (011-52) (55) 5261-2433 Facsimile: (011-52) (55) 5261-2465 E-mail: [email protected] (Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person) Securities registered or to be registered pursuant to Section 12(b) of the Act. Title of each class Name of each exchange on which registered Series A Shares, without par value New York Stock Exchange (for listing (Series A Shares) purposes only) Series B Shares, without par value New York Stock Exchange (for listing (Series B Shares) purposes only) Series L Shares, without par value New York Stock Exchange (for listing (Series L Shares) purposes only) Dividend Preferred Shares, without par value New York Stock Exchange (for listing (Series D Shares) purposes only) Global Depositary Shares (GDSs), each New York Stock Exchange representing five Ordinary Participation Certificates (Certificados de Participación Ordinarios) (CPOs) CPOs, each representing twenty-five New York Stock Exchange (for listing Series A Shares, twenty-two purposes only) Series B Shares, thirty-five Series L Shares and thirty-five Series D Shares Securities registered or to be registered pursuant to Section 12(g) of the Act: None. Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None. The number of outstanding shares of each of the issuers classes of capital or common stock as of December 31, 2016 was: 116,283,293,967 Series A Shares 53,800,800,745 Series B Shares 85,592,124,781 Series L Shares 85,592,124,781 Series D Shares Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. o Yes x No Copyright © 2017 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. o Yes x No Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. x Yes o No Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). o Yes o No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or an emerging growth company. See definition of large accelerated filer, accelerated filer, and emerging growth company in Rule 12b-2 of the Exchange Act. Large accelerated filer x Accelerated filer o Non-accelerated filer o Emerging growth company o If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o The term new or revised financial accounting standards refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012. Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing: U.S. GAAP o International Financial Reporting Standards as issued Other o by the International Accounting Standards Board x If Other has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow. o Item 17 o Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). o Yes x No Table of Contents Part I Item 1. Identity of Directors, Senior Management and Advisers 4 Item 2. Offer Statistics and Expected Timetable 4 Item 3. Key Information 4 Copyright © 2017 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Selected Financial Data 4 Dividends 7 Exchange Rate Information 8 Risk Factors 9 Forward-Looking Statements 25 Item 4. Information on the Company 27 History and Development of the Company 27 Capital Expenditures 27 Business Overview 28 Item 5. Operating and Financial Review and Prospects 65 Preparation of Financial Statements 65 Results of Operations 65 Liquidity, Foreign Exchange and Capital Resources 89 Contractual Obligations and Commercial Commitments 95 Item 6. Directors, Senior Management and Employees 98 Item 7. Major Stockholders and Related Party Transactions 109 The Major Stockholders 110 Related Party Transactions 110 Item 8. Financial Information 112 Item 9. The Offer and Listing 112 Trading History of CPOs and GDSs 112 Trading on the Mexican Stock Exchange 114 Item 10. Additional Information 117 Mexican Securities Market Law 117 Bylaws 118 Enforceability of Civil Liabilities 127 Material Contracts 128 Legal Proceedings 128 Exchange Controls 128 Taxation 128 Documents on Display 134 Item 11. Quantitative and Qualitative Disclosures About Market Risk 134 Item 12. Description of Securities Other than Equity Securities 139 Part II 140 Item 13. Defaults, Dividend Arrearages and Delinquencies 140 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 140 Item 15. Controls and Procedures 140 Item 16.A. Audit Committee Financial Expert 141 Item 16.B. Code of Ethics 141 Item 16.C. Principal Accountant Fees and Services 141 Item 16.D. Exemptions from the Listing Standards for Audit Committees 142 Item 16.E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 143 Item 16.F. Change in Registrants Certifying Accountant 144 Item 16.G. Corporate Governance 144 Item 16.H. Mine Safety Disclosure 145 Part III 145 Copyright © 2017 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Item 17. Financial Statements 145 Item 18. Financial Statements 145 2 Table of Contents Item 19. Exhibits 145 We publish our financial statements in accordance with International Financial Reporting Standards, or IFRS, as issued by the International Accounting Standards Board, or IASB, which differ in some significant respects from generally accepted accounting principles in the United States, or U.S. GAAP, and accounting procedures adopted in other countries. Unless otherwise indicated, (i) information included in this annual report is as of December 31, 2016 and (ii) references to Ps. or Pesos in this annual report are to Mexican Pesos and references to Dollars, U.S. Dollars, U.S. dollars, $ or U.S.$ are to United States dollars. In this annual report, we, us, our or Company refer to Grupo Televisa, S.A.B. and, where the context requires, its consolidated entities. Group refers to Grupo Televisa, S.A.B. and its consolidated entities. 3 Table of Contents Part I Item 1. Identity of Directors, Senior Management and Advisers Not applicable. Item 2. Offer Statistics and Expected Timetable Not applicable. Item 3. Key Information Selected Financial Data The following tables present our selected consolidated financial information as of and for each of the periods indicated. This information is qualified in its entirety by reference to, and should be read together with, our audited consolidated year-end financial statements.