Emilio Azcárraga Resigns Amid FIFA Probe

Emilio Azcárraga, the executive chairman of Grupo Televisa, has taken an immediate leave of absence amid an ongoing U.S. Department of Justice investigation into the company's alleged bribery related to FIFA broadcasting rights. This decision, announced in a filing with the Mexican Stock Exchange, comes as Televisa faces scrutiny over claims that it artificially inflated its stock prices and engaged in corrupt practices to secure rights for the World Cups from 2018 to 2030. Azcárraga's departure marks a significant moment for Televisa, the largest Spanish-language content producer globally, which recently settled a related lawsuit for $95 million. The investigation is part of the broader FIFAGate scandal and may materially affect Televisa's financial condition. In recent financial reports, the company has indicated both profits and revenue declines in its various segments, responding to competitive pressures. While no charges have been filed against Azcárraga, the investigation continues to unfold, with Televisa committed to cooperating fully.