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UPDATE 3-Mexico’s Televisa bids for Spanish TV license

UPDATE 3-Mexico's Televisa bids for Spanish TV license Grupo Televisa, the world's top producer of Spanish-language programming, is bidding for a license to operate broadcast television in Spain, expanding its reach to tap a 2.7 billion euro ($2.24 billion) advertising market. Televisa (TV.N: Quote, Profile, Research) (TLEVISACPO.MX: Quote, Profile, Research) said on Monday it teamed with a group of investors for a concession granted by the Spanish government that would give them access to one analog and two digital channels with national coverage. "Televisa will have a stake of 40 percent in the consortium, while a group of Spanish investors led by Grupo

Amnesty International’s Open Letter challenges political parties

In an Open Letter to all Mexican political parties, Amnesty International Secretary General Irene Khan challenged the leaders to make human rights the cornerstone of Mexican life and a fundamental central pillar of their electoral manifesto. “Mexico is at a cross roads. The democratic transition is about to move to a new phase in the 2006 elections, but respect for human rights – which is central to the democratic aspirations of all Mexicans - is largely absent from the political agenda, or only present in empty words. Political leaders must move from rhetoric to concrete action if Mexico is to

The Tail Wags the Dog: Mexicos Televisa Law Another Nail in the Coffin of Foxs Legacy

The Tail Wags the Dog: Mexicos Televisa Law Another Nail in the Coffin of Foxs Legacy Reforms to Mexicos media laws will likely concentrate power (and additional billions) in the hands of the already dominant Televisa juggernaut Despite wellfounded concerns over the potential effects that the changes could have on Mexican democracy, the Mexican Congress pushed the modifications through, and Fox signed off on the measure The reckless manner in which the reforms were approved reveals that lingering apprehensions over the quality of Mexicos political institutions, even nearly six years after the end of the authoritarian system, are grounded in reality

UPDATE 1-Mexico’s Telmex quarterly net profit leaps

UPDATE 1-Mexico's Telmex quarterly net profit leaps Leading Mexican telephone company Telmex said its second-quarter net profit jumped 42 percent, boosted by new businesses in Brazil and Chile. Telmex (TMX.N: Quote, Profile, Research)(TELMEXL.MX: Quote, Profile, Research), owned by Mexican entrepreneur Carlos Slim, said on Tuesday that it had a April-June net profit of 6.530 billion pesos ($606 million). The bottom line was sharply higher than market expectations. A Reuters survey forecast Telmex would report a net profit of 5.900 billion pesos. Telmex included in its results its recently acquired Brazilian long-distance operator Embratel (EBTP4.SA: Quote, Profile, Research) and Chilean company Chilesat (TLX.SN: Quote, Profile,

UPDATE 1-Mexico’s Geo 3rd-qtr net profit rises 32 pct

UPDATE 1-Mexico's Geo 3rd-qtr net profit rises 32 pct Geo, Mexico's No. 1 home builder, posted a 32 percent rise in third-quarter net profit from a sales surge during a nationwide housing boom. Geo (GEOB.MX: Quote, Profile, Research) said on Wednesday net profit in the July-September period was 267 million pesos ($25 million) as revenues rose 24 percent. Revenues at Geo jumped to 2.657 billion pesos as the company sold 9,624 houses in the period, up from 8,600 homes in the same quarter a year earlier. Geo said its core earnings before interest, taxes, depreciation and amortization rose 31 percent to 641 million pesos. "For

Mexico’s Televisa, Univision legal fight heats up

Mexico's Televisa, Univision legal fight heats up A legal dispute between Televisa and its U.S. partner, Univision, has escalated, with the Mexican broadcaster filing two more claims in a fight over royalties, Televisa (TV.N: Quote, Profile, Research) (TLEVISACPO.MX: Quote, Profile, Research) said on Friday it amended an existing suit against Univision to include new claims that the U.S. company aired sports programs from Televisa outside an existing programming deal and has refused to air Televisa advertising. In May, Televisa filed suit against Univision Communications Inc. (UVN.N: Quote, Profile, Research) in U.S. District Court in the Central District of California over royalties, and its

RMC acquisition to boost profit for Mexico’s Cemex

RMC acquisition to boost profit for Mexico's Cemex Mexico's Cemex, the world's No. 3 cement maker, is expected to almost triple its second-quarter net profit from the takeover of Britain's ready- mix concrete producer RMC and from foreign exchange gains. A Reuters survey of six analysts forecast, on average, that Cemex (CX.N: Quote, Profile, Research) (CEMEXCPO.MX: Quote, Profile, Research) would report a net profit of $634 million for the April-to-June period, up from $247 million in the same period a year earlier. In March Cemex bought RMC, the world's largest ready-mix concrete maker, for $5.8 billion, which strengthened its business base in Europe and doubled sales. "Above and beyond

Mexico’s Televisa replaces $600 mln in debt

Mexico's Televisa replaces $600 mln in debt Mexico's No. 1 broadcaster Televisa said on Wednesday it had successfully replaced $600 million in existing debt with identical new paper in a technical operation to comply with U.S. market regulations. Televisa (TLVSCPO.MX: Quote, Profile, Research) (TV.N: Quote, Profile, Research) said its month-long offer to exchange debt with a coupon of 6.625 percent and maturing in 2025 for identical new paper closed on Tuesday. "The total amount of old debt was exchanged for new bonds, corresponding to $600 million in new bonds issued today, September 7, 2005," Televisa said. The operation was a purely technical one

UPDATE 1-Mexico’s Kimber net tumbles on currency hedge

UPDATE 1-Mexico's Kimber net tumbles on currency hedge Kimberly-Clark de Mexico (Kimber), the country's top paper products company, said on Thursday its third-quarter net profit was down 10 percent, hit by a badly-timed currency hedge. Kimber earlier this year made a hedge against a weak peso until 2007, covering potentially volatile presidential elections next year. But the Mexican currency has strengthened recently, gaining 1.3 percent during the last quarter. "Net profit was affected by a high integral financing cost which continues to reflect the relative strength of the Mexican peso during 2005," Kimber (KIMBERA.MX: Quote, Profile, Research) said. The company, minority-owned by U.S.-based Kimberly-Clark Corp.

Mexico’s Penoles 4th-qtr net profit jumps 37 pct

Mexico's Penoles 4th-qtr net profit jumps 37 pct Mexico's Penoles, the world's top silver producer, said on Friday its fourth-quarter net profit rose 37 percent, helped by high world silver prices. Penoles (PENOLES.MX: Quote, Profile, Research) said its profit in the October through December period hit 555 million pesos ($52 million), and revenue rose 38 percent to 6.121 billion pesos. Despite pricing volatility in recent weeks, silver has largely held above $9.00 an ounce, and early this month hit a 22-year high close to $10 per ounce. Penoles has shown strong earnings performance over recent quarters, also benefiting from a surge in the prices