World

Bid winner for 1 of 2 new Mexican television channels does not make payment for concession

Mexico's Federal Telecommunications Institute has announced that one of two companies to which it awarded a new television channel last month has not followed through with a required payment.

The agency said late Friday that Radio Centro had decided not to make the payment for the 20-year concession. Radio Centro originally bid $208.4 million.

The awarding of the two new licenses was supposed to be a step toward breaking up the long-running dominance of two television networks in Mexico.

The telecommunications agency says it will consider what steps to take next.