Televisa has always been the number one network in Latin America. They have produced a number of phenomenal programs that has been acclaimed around the world. They are also serving as the home network of Mexico’s biggest celebrities. However, even if they have become a successful company, problems, issues and challenges still come in their way. One of the greatest challenges that the company faced was the death of their previous chief executive officer, Emilio Azcarrage Milmo.
The company faced a series of issues with the structure of organization, and the growth became stagnant. Most of the people in the management do not have any idea on how they could get out of the problem, but one of them proposed an idea that would save the company. His name is Alfonso de Angoitia Noriega, who serves as Televisa’s chief financial officer.
When the company faced their greatest challenge with the organizational structure, Alfonso de Angoitia Noriega worked with his close friend, Emilio Azcarrage Jean, the son of Emilio Azcarrage Milmo, on how the issue should be addressed. They restructured the company, opened up new departments and closed down those which are underperforming. They also reshuffled the responsibilities of each people in the management, with him becoming the executive vice president in the process. Once the restructuring is complete, people working for Televisa had a clearer view of their own obligations, and the problem has finally come to an end. There is no more confusion among each other’s responsibilities, and work is being distributed evenly. However, another problem is yet to be resolved – the stagnant growth of Televisa.
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Alfonso de Angoitia Noriega worked in the United States when he was younger, so he had the idea to contact a US company named Univision to offer a partnership. Univision is originally established by the family of Emilio Azcarrage Jean, but they lost control when the United States became stricter with foreign-owned corporations. With the $1.2 billion dollar deal that Alfonso de Angoitia Noriega proposed, Televisa managed to own a small percentage of Univision, and they managed to gain access to households in the United States with Hispanic majority. Through the years, Televisa’s ownership with Univision grew to 49%, and it resulted to the continuous growth of the company’s value and the rise of their profit.