Comcast Corp. (CMCSA - Free Report) and Mexican telecom behemoth America Movil SAB (AMX - Free Report) have submitted joint bids to the Mexican Football Federation for rights to telecast the men’s and women’s Mexico national team over the next two World Cup cycles in the United States and rest of the world (excluding Mexico).
The proposal submitted for the United States includes rights across all media platforms while for rest of the world, the bid is only for digital rights. On behalf of the U.S. cable MSO (multi service operator) and media giant , the deal was signed by its NBC Universal division, which includes Hispanic language TV channel, Telemundo. Notably, the U.S. Hispanic TV market is highly lucrative and is growing at a remarkable pace. An estimated 35 million people living in the United States are Mexican or of Mexican background.
Meanwhile, Grupo Televisa SA (TV - Free Report) , the undisputed leader of the Mexican TV broadcasting market, has renewed its TV broadcast contract with the Mexican soccer federation for eight years. The company together with TV Azteca is holding exclusive rights to broadcast the games of Mexico's national football team in that country since 1998.
America Movil has decided to launch a Hispanic TV channel, Nuestra Vision, in the United States. The new TV channel is slated to be launched later this year and will be offered by the America Movil unit Publicidad y Contenido Editorial. The TV channel will broadcast news, movies and sports highlights. Moreover, in August 2017, America Movil entered into a wireless roaming agreement with AT&T Inc. (T - Free Report) for its Mexican users.
Price Performance of Comcast
Comcast’s shares have lost 1.02%, underperforming the industry’s decline of 0.78% over the past 90 days. The company currently carries a Zacks Rank #3 (Hold).
Price Performance of America Movil
America Movil’s shares have increased 9.74%, outperforming the industry’s gain of 1.77% over the past 90 days. The company currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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