Following the announcement, the shares of the main Mexican media firms, Televisa and TV Azteca, rose sharply after the announcement of an agreement with the Federal Government to broadcast classes for the next school year, while schools remain closed due to the coronavirus.
MEXICO (Times Media Mexico) – According to the Presidency, the back-to-school plan to be supported by the media, mainly television stations such as Televisa, TV Azteca, Grupo Imagen and Multimedios, would involve an investment of more than 450 million pesos in the distance education system for the 2020-2021 school year.
The spokesman reported that the Ministry of Public Education reached an agreement with companies to establish a “minimum investment quota” that would involve an investment of more than $3’87,000 pesos per day, between August 24th and December 18th of this year.
Under these conditions, the cost will be 15 pesos for each of the 30 million students in public schools across the country or what represents 12 cents a day per student.
“Based on the costs of the Agreement for Education, the unit cost of 15 pesos, including VAT, for each regular student enrolled in the 2020-2021 school year, who will benefit from the contents of the academic program to be implemented by television from August 24 to December 18, 2020, representing 12 cents a day per student,” he said.
Andrés Manuel López Obrador gave instructions for the amount that would be paid to Televisa, TV Azteca, Grupo Imagen and Multimedios for the transmission of classes at a distance in the new school year, since there are no conditions for the return of the students in view of the prevalence of the Covid-19 pandemic.
The Presidency reiterated that the agreement with the concessionaires establishes that there will be television channels to broadcast learning content at the pre-school, primary, secondary and high school levels, but not for profit.
“The TV stations committed to provide the service of distribution, dissemination and transmission of educational visual content on a non-profit basis through the multiplex channels they have,” he said.
The shares of Mexico’s leading media firms, Televisa and TV Azteca, rose sharply after the announcement of an agreement with the federal government to broadcast classes for the next school year, while schools remain closed due to the coronavirus.
Among the 35 main broadcasters in the country, the performance of Grupo Televisa Unit’s shares stood out, with an 11.10% increase, while its direct rival in the sector, TV Azteca, rose 7.06%.
Televisa’s shares reached a price of $28.42 pesos, while those of TV Azteca stood at $0.364 pesos, a significant boost for both television stations after they showed downward trends due to weak advertising revenues. Meanwhile, the S&P / BMV IPC index of the Mexican Stock Exchange, BMV, closed with a loss of 0.21%, at the level of 37,466.95 units, after starting the week with a rise of more than one percent.
The prospects of investors are still weakened by the coronavirus pandemic, proof of this is the price of gold, an asset considered a refuge in times of instability, whose price has now exceeded $2,000 per ounce, a historical high.
