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Viacom Plans Major Moves in Mexico

After meeting with Mexican President Vicente Fox and other senior Mexican officials, Viacom Chairman Sumner Redstone on Tuesday said that his company intends to expand further into Latin America with Mexico as its primary focus. Meeting with reporters, Redstone remarked, "Mexico is one of the top five priorities of Viacom for years to come. ... Mexico is the world's 10th largest economy. ... It has a growing, vibrant advertising business. ... Fifty percent of the population is under age 24, which is music to our ears." Redstone did not spell out Viacom's plans for expansion. The company owns the CBS television network, the MTV networks, Nickelodeon, and Comedy Central. Reuters reported that although the company already has introduced versions of some of its cable networks in Latin America (it is launching VH1 Latinoamerica on Thursday) it would also like to sell some of its programming to existing over-the-air stations as well.
2004-04-20 23:11:18