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ALFREDO AZCARATE VARELA
THE BAJA POST/EDITOR
Investigations into alleged bribes for World Cup matters against Emilio Azcárraga III are increasing the problems for TELEVISA, which began to surface with the staff cuts in early 2024. These accusations have led him to request a leave of absence, leaving Bernardo Gómez in charge of the company, and the copany´s stocks proces suffered a steep fall.
TELEVISA is the oldest TV Network in Mexico and the company is almost 100 years old, it was Mr. Azcárraga´s Grandfather who started with Radio Station XEW in 1930, which grew to become a multi-national media communication corporation, but it seems that there were irregular ad corrupt practices by the founder´s grandson.
There have always been rumors of TELEVISA bribing Governments or illegitimate practices in order to become the only company, a monopoly involved in TV, movies, theaters and print media ang others, and as Azcarraga III father once said “we are PRI soldiers”, the PRI is the hegemonic political party that remained 70 years holding absolute power.
The investigation is not new, but it seems things have become difficult for Azcárraga III, who is taking a leave of absence while investigations by the United States Securities and Exchange Commission (SEC) into alleged irregular financial operations with FIFA continue, but for most people who are acquainted with the company´s practices it is nothing strange.
Speculations on social media are more conjecture than fact, questioning whether the 2026 World Cup in Mexico might be at risk, or if Club América could be disaffiliated by the Mexican Football Federation (which would be outrageous). However, in August 2018, there was a lawsuit that TELEVISA resolved in 2023 with a $95 million settlement.
Amid technological changes and the growth of social media, which provides access to a wide variety of content that is increasingly easier to produce and distribute, the company has lost much of its strength. However, it is not defeated, just in need of readjustment, which has involved budget cuts and a large number of layoffs with substantial severance packages.
The financial situation of TELEVISA is not alarming, but it no longer has the economic magnitude and cash flow it once did, which had its peak when Azcárraga III’s grandfather founded XEW, a radio station that eventually evolved into the media empire it is today.
