Televisa’s Corporate Governance
We are a Mexican corporation listed on the Mexican Stock Exchange (Bolsa Mexicana de Valores or BMV). Our corporate governance practices are governed by our bylaws, the Mexican Securities Market Law, and the regulations issued by Mexico?s National Banking and Securities Commission (Comision Nacional Bancaria y de Valores orCNBV)and the BMV. We follow the Mexican Code of Best Corporate Practices (Código de Mejores Prácticas Corporativas) and make public an annual questionnaire showing our degree of compliance with such Code of Best Corporate Practices. See "- Bylaws" and "- Code of Best Corporate Practices" in our website for a more detailed description of our corporate governance practices.
As a foreign private issuer with shares listed on the New York Stock Exchange (NYSE), we are subject to different corporate governance requirements than a U.S. company under the NYSE listing standards. With certain exceptions, foreign private issuers are permitted to follow home country practice standards. Pursuant to Rule 303.A11 of the NYSE listed company manual, we are required to provide a summary of the significant ways in which our corporate governance practices differ from those required for U.S. companies under the NYSE listing standards.
The table below sets forth a description of the significant differences between corporate governance practices required for U.S. companies under the NYSE listing standards and the Mexican corporate governance standards that govern our practices.