Mexico telecoms regulator reveals bids for two new TV networks
MEXICO CITY, March 11 (Reuters) - Mexico's telecoms regulator on Wednesday revealed offers made by the two media companies bidding to win two new national television networks, which the government hopes will boost competition in the broadcasting sector.
Cadena Tres, part of Grupo Imagen, owned by Mexican businessman Olegario Vazquez, offered 1.81 billion pesos ($116.8 million) for a network that would cover 106 million people, the Federal Telecommunications Institute (IFT) said.
Grupo Radio Centro, run by Francisco Aguirre, offered 3.1 billion pesos for a network that would also cover 106 million people, the IFT said at a news conference.
The two companies were the only bidders left in the auction after various other groups pulled out.
The auction of the two new digital TV channels is part of a wider telecommunications overhaul finalized last year which hopes to increase competition in broadcasting, which is dominated by Televisa and TV Azteca.
The Vazquez family controls the privately-owned Grupo Angeles, whose interests include hotels, hospitals and the media company Grupo Imagen, home to one of Mexico's main newspapers, Excelsior. ($1 = 15.5008 Mexican pesos) (Reporting by Tomas Sarmiento and Christine Murray; Editing by David Gregorio)
© Thomson Reuters 2016 All rights reserved.