Slim Now Can Enter Television Industry
Carlos Slim, the Mexican billionaire, is now undertaking an aggressive incursion into the Mexican television market to take advantage of the benefits provided by new legislations passed on telecommunications. This is done while his phone company is taking licks as a result of the self-same laws in application.
America Movil SAB is one of the main reasons why new laws were passed specifically to foster competition in the Mexican telecommunications industry. The new law promises to provide Mexican consumers more options as to cable and television providers.
While this affects the flagship company, it also provides Slim the best opportunity to obtain a license in offering pay-TV services in cable and satellite markets. Now, the world's richest man is snapping up media assets such as Olympic viewing and airing rights as well as Mexican sports teams to engage them to subscribe to his television channels.
Prior to these proposed legislation, the dominance of America Movil in the Mexican market prevented it from expanding into the television industry.