(Reuters) – Grupo Televisa Mexico, Mexico’s biggest broadcaster, posted a huge jump in its first quarter net profits versus a loss the previous year. This was due to discontinued operations related with Univision’s content merger.

It posted a net profit of 52.65 billion pesos (or $2.65 billion) in its first quarter, compared with a loss in the same time period 2021 at 584 million.

According to the Mexican stock exchange, the company’s revenues increased by 3.3% over the previous year to 18.6 billion pesos.

Televisa merged with Univision July 31 and created TelevisaUnivision. This new company combines the content of both broadcasters.

Televisa reported that sales of satellite TV service SKY dropped 6.2% and usage declined 13.6%. In the fourth quarter, there were 175,000 disconnections. Televisa’s cable segment saw 1.1% growth in sales and 3.0% growth in usage.

TelevisaUnivision released a free, ad-based ViX streaming platform in March. It will be competing with Amazon.com Inc. (NASDAQ:).

ViX Plus, a subscription-based Tier, will launch during the second half year.

($1 = 19.8911 pesos by end-March)