Televisa 4Q Profit Rises

Televisa said late Thursday it earned 2.8 billion pesos ($262 million) in the last three months of 2007, up from 2.4 billion pesos in the year-earlier period.

Its sales rose 11.3 percent to 12.41 billion pesos ($1.1 billion) from 11.1 billion pesos a year earlier.

Despite the strong sales, the company said that as of Dec. 31, upfront deposits for television advertising dropped 3.2 percent to 16.23 billion pesos ($1.5 billion). TV companies generally sell commercial time in what is known as the upfront market well ahead of when the ads are to appear.

Net profit for the full year fell 9.3 percent to 8.1 billion pesos ($750 million) from 8.9 billion pesos in 2006, mostly due to higher taxes. Sales for 2007 increased 5.6 percent to 42 billion pesos ($3.9 billion).

Television broadcasting sales rose 5.6 percent to 6.8 billion pesos ($629 million) in the fourth quarter. Fourth-quarter sales for the company's cable and telecommunication segment climbed 43.2 percent from a year earlier.

Sales at the company's Sky satellite television service increased 10.9 percent to 2.2 billion pesos ($204 million).