Televisa to Invest US$50mn in Esmas

Mexican media holding Televisa (www.televisa.com.mx) will inject US$50mn into horizontal portal Esmas (www.esmas.com), Televisa administration and finance VP Alfonso de Angoitia said, quoted in CNI (Mexico). Televisa regards the Internet as a priority this year, and is looking to capture Internet surfers throughout the Americas, specifically the 30 million Hispanics in the US, a company source said. However, Santander Mexicano media analyst Francisco Rivero recalled a recent conversation with the Televisa management, where "there was talk about cutting down the financing for the Internet project by US$20mn this year". Last year, Televisa carried out two staff reductions, involving an unspecified number of employees. During 2000 Televisa invested around US$76mn to roll out Esmas and according to financial analysts the company has raked in some US$4.5mn in advertising revenue so far. Aside from Esmas, Grupo Televisa also owns a stake in real estate portal Metroscubicos (www.metroscubicos.com) and in health portal Estarbien (www.estarbien.com).