Mexican tycoon Carlos Slim is to enter the TV production business for the first time through his Latin American telco America Movil.
The move could see Slim, the world’s wealthiest man, compete directly with Televisa, which is currently the largest producer of Spanish-language content in the world.
America Movil, which operates a satellite pay TV service in Brazil, is to begin producing TV series in Colombia, in a step that could see it move into regional media across the region.
Oscar Von Hauske, wireline business director at America Movil, told investors and the company’s annual investor conference in Mexico, that the company to tap into underserved pay TV audiences in Latin America.
Slim, who has a reported personal net worth of US$61 billion, is chairman and chief executive of America Movil and Telmex.