Adds results and restructuring expectations from paragraph 3
By Aida Pelaez-Fernandez
MEXICO CITY, July 24 (Reuters) - Mexico's largest broadcaster Grupo Televisa TLEVISACPO.MX cut its forecast for 2024 capital expenditures to $720 million, from a $790 million outlook it had announced in February, to focus on the reconstruction of its fibre-optic cable in hurricane-hit Acapulco.
Televisa expects insurance to reimburse it for expenditures in Acapulco, the chief executive of the firm's cable unit, Francisco Valim, said during a call on Wednesday to discuss quarterly results.
Televisa posted a loss of $1.4 million for the second quarter, reporting it was hurt by a fall in revenue from satellite TV disconnections and labor costs.
During the results call, executives also said Televisa continues its restructuring process with the merger of its satellite television unit SKY with cable TV and internet service Izzi.
"We are confident that our restructuring and integration process, most of which already occurred in the second quarter of this year, will allow us to deliver OpEx (operating expenses) savings of approximately 400 million pesos ($21.84 million) in the third quarter," a senior executive said.
($1 = 18.3124 Mexican pesos)
(Reporting by Aida Pelaez-Fernandez; Editing by Anthony Esposito and Aurora Ellis)