March 9, 2017 / 3:39 PM / a year ago

UPDATE 1-Mexico slaps new antitrust rules on broadcaster Televisa

MEXICO CITY, March 9 (Reuters) - Broadcaster Grupo Televisa said on Thursday that Mexico’s telecommunications watchdog had imposed new regulations on it in the broadcasting sector, including increased accounting transparency.

Televisa, the world’s largest maker of Spanish-language content, has been subject to tougher regulations since 2014 as part of a sweeping sector reform aimed at making the market more competitive.

The Federal Telecommunications Institute (IFT), Mexico’s telecoms regulator, will strengthen supervision of existing infrastructure-sharing and require the company to hand over detailed information on advertising prices.

It will also require Televisa to provide separate accounts for each part of the business, the company said in a statement.

Televisa said that the new measures come as the sector already faces greater competition, both from new technologies and a new broadcasting network, which it said has hit profit margins.

It said it will consider legal or business actions it could take in response.

Despite the news, shares in the company were trading up 1.31 percent at 101.78 pesos each.

The new measures are part of a periodic revision of the market, which also affected long time-rival Carlos Slim’s America Movil.

Slim’s company, which holds more than two thirds of mobile subscriptions in Mexico, said on Wednesday it will have to separate part of its network infrastructure into a new entity. (Reporting by Christine Murray and Alexandra Alper; Editing by Frances Kerry)

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