Carlos Slim to launch TV channel for Mexican audience in U.S.

Carlos Slim in 82 Seconds
Carlos Slim in 82 Seconds

Telecommunications mogul Carlos Slim has announced his intention to launch a channel tailored to the Mexican audience in the United States.

The channel, called Nuestra Visión ("Our Vision" in English), will be provided by Publicidad y Contenido Editorial, a unit of the Slim-owned America Movil, which is the largest cellular phone company in Latin America.

"Nuestra Visión is focused on Mexicans, made by Mexicans and transmitted from Mexico," the narrator says in a promotional video.

For Slim, a Mexican billionaire who has at times claimed the title of richest person in the world, the channel represents an opportunity to plant his flag in a large American television market.

According to the Migration Policy Institute, a nonprofit think tank in Washington, D.C., there were more than 11.7 million Mexican immigrants in the U.S. as of 2014, representing 28% of the country's foreign-born population. The number swells to more than 35 million when including people with Mexican ancestry or Hispanic origin.

Nuestra Visión will compete against a pair of Spanish-language giants already operating in the U.S., Univision and Telemundo. On Tuesday, Univision, which boasts of reaching 97% of Hispanic households in the U.S., announced that it would expand its relationship with the Mexican media company Televisa.

In a joint statement, Univision and Televisa said that each would benefit "from a single, integrated focus on the Hispanic audience in the United States and the domestic Mexican audience, as well as from potential cost synergies from aligned content initiatives."

Nuestra Visión will offer a variety of programming, including news, movies and sports. The channel will launch this year, when tensions between the U.S. and Mexico could be amplified. Slim had expressed concerns about President-elect Donald Trump during last year's campaign, warning that the candidate's economic policies could "destroy" the United States. Trump also accused Slim, who has a major ownership stake in the New York Times, of orchestrating unfavorable coverage of his candidacy.

But both men sang a very different tune last month after meeting for dinner at Trump's resort in Florida. In a statement following the meal, Trump called it "a lovely dinner with a wonderful man."

Those improved relations might give Nuestra Visión a distinct advantage over Univision, which has tried repeatedly and unsuccessfully to land an interview with Trump.

Social Surge - What's Trending

Newsletter

CNNMoney Sponsors