Media and Technology Updates
Fox Corporation Acquires Caliente TV
Fox Corporation, a prominent American media company, announced the acquisition of Caliente TV, a sports channel owned by Grupo Caliente. This move aims to expand Fox’s content offerings in Mexico, following a failed attempt to revive Fox Sports México a year ago.
With this acquisition, Fox plans to establish a multi-platform business that includes launching a paid television channel and a streaming platform. Both will join Fox Corp’s existing free platform, Tubi, to produce and distribute over 3,000 hours of original sports content.
Microsoft to Implement Job Cuts
Microsoft, a leading American software and cloud services developer, is planning to reduce thousands of jobs in the coming weeks as it transitions towards artificial intelligence.
The job cuts will affect sales departments and other teams, with the exact number still undecided. These reductions are expected for Microsoft’s new fiscal year, starting in July. This round of layoffs adds to the approximately 6,000 positions eliminated in May this year across product development and software units worldwide.
Financial and Social Sector Developments
Banco del Bienestar Receives High Rating from Moody’s
Banco del Bienestar, the primary disburser of resources for federal social programs, received a long-term issuer rating of ‘AAA.mx’ – the highest possible – from Moody’s Local, backed by an explicit guarantee from the Mexican government.
The rating, accompanied by a stable outlook, also acknowledges the bank’s role as social banking to promote inclusion. This transformation led to over 2,700 branches and a proven capability to deliver social programs for various population groups.
However, Moody’s identifies operational and execution risks due to the bank’s extensive branch network and market risk on margin financing, as most positive results come from interests and returns.
Google Faces EU Antitrust Challenge
Google, part of Alphabet, faced a potential setback on Thursday when an EU top court advisor sided with the region’s antitrust regulators in Google’s fight against a record €4.34 billion fine imposed seven years ago.
In its 2018 decision, the European Commission stated that Google had used its mobile operating system, Android, to hinder competition. A lower court supported the EU’s conclusion in 2022 but reduced the fine to €4.1 billion, prompting Google to appeal to the EU’s top court.
Juliane Kokott, the Advocate General at the Court of Justice of the European Union in Luxembourg, advised the court to dismiss Google’s appeal and uphold the reduced penalty set by the lower court.
Mexican Investment Fund Operators
At the end of Q1 2025, Mexican investment fund operators managed a total of 4 trillion 427 billion pesos, marking a 5.2% increase from the end of 2024.
Collectively, funds recorded the sale of 13 million shares from Mexican issuers, equivalent to 0.2% of their total holdings. Despite this, the value of these instruments rose by 3,600 billion pesos.
