Canada markets close in 5 hours 19 minutes
  • S&P/TSX

    17,915.18
    -99.73 (-0.55%)
     
  • S&P 500

    3,860.21
    +8.36 (+0.22%)
     
  • DOW

    31,237.18
    +48.80 (+0.16%)
     
  • CAD/USD

    0.7924
    +0.0006 (+0.07%)
     
  • CRUDE OIL

    53.08
    -0.23 (-0.43%)
     
  • BTC-CAD

    39,729.04
    -2,579.86 (-6.10%)
     
  • CMC Crypto 200

    628.77
    -51.13 (-7.52%)
     
  • GOLD FUTURES

    1,865.10
    -1.40 (-0.08%)
     
  • RUSSELL 2000

    2,144.99
    -15.63 (-0.72%)
     
  • 10-Yr Bond

    1.1110
    +0.0210 (+1.93%)
     
  • NASDAQ

    13,522.59
    +65.34 (+0.49%)
     
  • VOLATILITY

    21.69
    +0.11 (+0.51%)
     
  • FTSE

    6,722.49
    -17.90 (-0.27%)
     
  • NIKKEI 225

    28,756.86
    +233.60 (+0.82%)
     
  • CAD/EUR

    0.6513
    -0.0021 (-0.32%)
     
STOCK MARKET NEWS LIVE UPDATES:

STOCKS RISE AS BIDEN PREPARES MORE PANDEMIC MEASURES

Mexico says Televisa has "substantial power" in TV market

·1 min read

MEXICO CITY (AP) — A Mexican regulatory agency declared Friday that the country’s largest broadcaster, Grupo Televisa, has “substantial market power” in cable television service.

The declaration triggers a potential investigation into whether the company’s market sway requires additional regulatory moves to allow competitors to enter or expand.

The Federal Telecommunications Institute said the company's “index of increasing prices and the high profit margins are evidence consistent with the existence of a market player that does not have competition that would effectively limit its ability to fix prices.”

The agency also cited barriers to entry to the market and long-term contracts that limit customers' ability to change cable providers.

Grupo Televisa said in a statement that the decision was “inconsistent with previous resolutions” by the agency and that it would consider steps to defend itself.