UNITED STATES
                     SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C. 20549

                                  FORM 6-K

        REPORT OF FOREIGN ISSUER PURSUANT TO RULES 13a-16 OR 15d-16
                 UNDER THE SECURITIES EXCHANGE ACT OF 1934

                      For the month of September, 2005

                            GRUPO TELEVISA, S.A.
             -------------------------------------------------
              (Translation of registrant's name into English)

     Av. Vasco de Quiroga No. 2000, Colonia Santa Fe 01210 Mexico, D.F.
   ---------------------------------------------------------------------
                  (Address of principal executive offices)




     (Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F.)

             Form 20-F     X                      Form 40-F
                        -------                              -------

     (Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act
of 1934.)

                Yes                                  No     X
                     -----                                -----

     (If "Yes" is marked indicate below the file number assigned to the
registrant in connection with Rule 12g-3-2(b): 82 .)



                                                      Press Release
[LOGO - GRUPO TELEVISA, S.A.]                         FOR IMMEDIATE RELEASE
                                                      ---------------------

          GRUPO TELEVISA ANNOUNCES CONSUMMATION OF ITS EXCHANGE OF
      REGISTERED 6.625% SENIOR NOTES DUE 2025 FOR UNREGISTERED 6.625%
                           SENIOR NOTES DUE 2025

Mexico City, September 7, 2005 - Grupo Televisa,  S.A.  ("Televisa") (NYSE:
TV;  BMV:  TLEVISA  CPO)  announced  today that on  September  6, 2005,  it
consummated  its  previously  announced  offer to exchange  its  registered
6.625%  Senior  Notes  due 2025  (the  "New  Notes")  for its  outstanding,
unregistered  6.625% Senior Notes due 2025 (the "Old  Notes").  Pursuant to
the exchange offer,  all of the Old Notes were exchanged for New Notes, and
an  aggregate  principal  amount of  U.S.$600,000,000  of the New Notes was
issued today, September 7, 2005.

Grupo Televisa,  S.A., is the largest media company in the Spanish-speaking
world and a major participant in the international  entertainment business.
It has interests in television  production and broadcasting,  production of
pay  television   networks,   international   distribution   of  television
programming,  direct-to-home satellite services,  publishing and publishing
distribution,   cable   television,   radio  production  and  broadcasting,
professional  sports and live  entertainment,  feature film  production and
distribution,  and the  operation of a horizontal  internet  portal.  Grupo
Televisa also owns an unconsolidated equity stake in Univision, the leading
Spanish-language media company in the United States.

                                    ###


CONTACTS:
INVESTOR RELATIONS:
Michel Boyance/Alejandro Eguiluz
Grupo Televisa, S.A.
Av. Vasco de Quiroga No. 2000
Colonia Santa Fe
01210 Mexico, D.F.
(5255) 5261-2000



                                 SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                                             GRUPO TELEVISA, S.A.
                                             --------------------------------
                                                  (Registrant)


Dated: September 7, 2005                     By /s/ Jorge Lutteroth Echegoyen
                                                ------------------------------
                                             Name:  Jorge Lutteroth Echegoyen
                                             Title: Controller, Vice-President