Reuters | February 21, 2011 | Cyntia Barrera Diaz
(Reuters) – Billionaire Carlos Slim pulled advertising from Mexico‘s top broadcaster after ad rates spiked by 20 percent, a Slim spokesman said on Sunday, in a deepening rivalry between two of the country’s top tycoons.
But while Slim’s enterprises say they would have had to pay higher prices to advertise with Televisa, a spokesman for the media giant said any firm that had not bought advertising early faced an increase.
“The Slim companies did not participate in the upfront,” the Televisa spokesman said, referring to an auction in which companies secure discounted advertising needs for the year.
“By not participating in the upfront, any advertising buy has a different (higher) price. This applies to all clients, not only to Slim companies,” said the Televisa spokesman, who did not specify what increase would typically apply.
Ad revenue from Slim’s companies, including retailers from Grupo Carso, Telmex and Telcel, the commercial brand of giant cellphone company America Movil, accounted for about 1.5 percent of Televisa’s revenue last year, the broadcaster said on Friday.
That percentage represents roughly $70.5 million based on 2010 sales results, while the Slim spokesman said annual advertising spending with Televisa was close to $100 million.
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