MEXICO CITY (AP) -- Mexico has awarded licenses for two new television channels to the Cadena Tres and Radio Centro companies, breaking the long-running dominance of two networks.
The Federal Telecommunications Institute said Wednesday that at the end of the process Cadena Tres and Radio Centro were the only two bidders. They should have their channels up and running in the next five years.
The two new channels are part of telecommunications reforms passed in 2014 to increase competition in the television market, which has been dominated in recent years by Televisa and TV Azteca.
The agency said Cadena Tres bid $123.2 million and Radio Centro $208.4 million. The concessions are good for 20 years.
Cadena Tres is part of Olegario Vazquez Rana's Grupo Empresarial Angeles. Radio Centro is owned by Francisco Aguirre.