MEXICO CITY, Feb 21 (Reuters) - Executives at Mexico's

largest broadcaster Grupo Televisa said Friday

the company's budget for capital expenditures (CAPEX) in 2025

was $665 million.

The company's 2024 consolidated capex was $493 million,

lower than the previously forecasted $793 million.

A day earlier, Televisa posted its

fourth quarter results

showing a wider net loss of 9.8 billion pesos ($471

million), compared to the 6.8 billion-peso-loss in the year-ago

period.

The broadcaster's revenues during the

October-to-December period totaled 15.2 billion pesos, a nearly

7% decrease from the same three months in 2023.

It cited a drop in its subscription base, plus

reductions in revenue from business operations and its satellite

TV unit Sky.

In a earnings call on Friday, executives said the

company had the equivalent of about $2.3 billion in cash and

planned to use excess cash to address upcoming debt maturities

this year and next year.

The company reported cash and cash equivalents of about

48.7 billion pesos ($2.3 billion) in 2024, an increase of nearly

40% from the previous year.

Televisa shares were down about %4.1 after the call.

Executives also said that TelevisaUnivison, its firm that

combines content with U.S. broadcaster Univision, had reduced

its workforce by about 8%, or 1,000 employees.

Its streaming platform Vix became a billion-dollar

business in the second half of 2024, executives said, adding

that they were actively looking to deleverage TelevisaUnivision.

The chief executive of streaming giant Netflix ( NFLX )

on Thursday announced a $1 billion investment to produce some 20

films and TV series in Mexico annually over the next four years.

In the call with investors, Televisa executives said the

announcement was "great" and would make the broadcaster better.