---
title: "Mexican billionaire David Martinez raises stake in broadcaster Televisa to 7.8%"
description: "Mexican billionaire David Martinez has increased his stake in broadcaster Televisa to 7.8% through his company Fintech Advisory, as reported in a filing to the U.S. SEC. This investment highlights the"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/218403169.md"
published_at: "2024-10-31T01:00:30.000Z"
---

# Mexican billionaire David Martinez raises stake in broadcaster Televisa to 7.8%

> Mexican billionaire David Martinez has increased his stake in broadcaster Televisa to 7.8% through his company Fintech Advisory, as reported in a filing to the U.S. SEC. This investment highlights the value Martinez sees in Televisa's assets and may strengthen the control of co-CEOs Alfonso de Angoitia and Bernardo Gomez. The disclosure follows Televisa's announcement of its executive chairman taking administrative leave amid a U.S. investigation. Televisa recently reported a net profit, aided by its partnership with Univision.

By Cassandra Garrison

MEXICO CITY, Oct 30 (Reuters) - Mexican billionaire David Martinez now holds a 7.8% stake in broadcaster Televisa through his company Fintech Advisory, a filing to the U.S. Securities and Exchange Commission (SEC) showed on Wednesday.

Martinez keeps a low profile but is known for reaping big profits from investments, including from bets on distressed assets in countries such as Argentina, Venezuela and his native Mexico.

Investors need to file an advisory with the SEC once their ownership of a listed company exceeds 5%.

Fintech Advisory now holds nearly 209 million so-called ordinary participation certificates, the filing showed, although the timing of the purchases was not clear.

Reuters was not able to reach Fintech Advisory for a comment and Televisa declined to comment beyond the filing.

“David Martinez is known for his close relationship with Alfonso de Angoitia and Bernardo Gomez, the two co-CEOs of Grupo Televisa,” said Damian Fraser, chief executive of media and financial consultancy Miranda Partners.

“His decision to invest in the company not only underlines the attractive value he sees in the collection of assets that comprise Grupo Televisa but is likely to cement still further de Angoitia and Gomez’s control of the company,” Fraser said.

The disclosure comes days after Televisa said its executive chairman, Emilio Azcarraga, was taking “administrative leave” pending the results of a U.S. Department of Justice investigation into the company’s dealings with FIFA soccer officials.

In its third-quarter results, Televisa, the world’s largest producer of Spanish-language content, posted a net profit, largely boosted by improved results from its tie-up with U.S. Spanish-language broadcaster Univision.

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.