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 June, 2004

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

     Av. Vasco de Quiroga No. 2000, Colonia Santa Fe 01210 Mexico, D.F.
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                  (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.)




[TELEVISA LOGO]
                                                          PRESS RELEASE
                                                          FOR IMMEDIATE RELEASE
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         FITCH UPGRADED GRUPO TELEVISA'S LONG-TERM FOREIGN CURRENCY
         RATING TO "BBB" FROM "BBB-" AND AFFIRMED OUTLOOK AT STABLE

Mexico City, June 17, 2004 - Grupo Televisa,  S.A.  ("Televisa,"  NYSE: TV;
BMV:  TLEVISACPO)  announced  today that Fitch  Ratings  has  upgraded  its
long-term  foreign  currency  rating to "BBB" from "BBB-" and  affirmed its
outlook at stable.

This rating action follows the announcement that Fitch has assigned country
ceiling  ratings  above  the  long-term  foreign  currency  rating  of  the
sovereign for certain  countries across the globe,  including  Mexico. As a
result of this  announcement,  Televisa is one rating level above  Mexico's
sovereign long-term foreign currency rating.

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

This  press  release  contains  forward-looking  statements  regarding  the
Company's  results and prospects.  Actual  results could differ  materially
from these statements. The forward-looking statements in this press release
should be read in  conjunction  with the factors  described in "Item 3. Key
Information - Forward-Looking Statements" in the Company's Annual Report on
Form 20-F,  which,  among  others,  could  cause  actual  results to differ
materially from those contained in forward-looking  statements made in this
press release and in oral  statements  made by  authorized  officers of the
Company.  Readers  are  cautioned  not to  place  undue  reliance  on these
forward-looking statements, which speak only as of their dates. The Company
undertakes no obligation to publicly  update or revise any  forward-looking
statements,  whether  as a result  of new  information,  future  events  or
otherwise.

                                             ###
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:  June 18, 2004               By  /s/ Jorge Lutteroth Echegoyen
                                           ---------------------------------
                                        Name:   Jorge Lutteroth Echegoyen
                                        Title:  Controller, Vice-President