Mexico Mining Magnate to Bid on TV Network to Challenge Televisa
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Billionaire German Larrea, who controls Mexico’s biggest mining company, is considering a foray into the media business by bidding for one of two national broadcast channels set to be auctioned next year.
Larrea resigned from the board of Mexican broadcaster Grupo Televisa SAB to avoid a potential conflict of interest because he plans to participate in the government auction for the TV networks. His departure is effective immediately, Televisa said yesterday in a filing.