Mexican Telecoms at a Crossroads: How Slim’s Stability, Azcárraga’s Exit, and Salinas’s Struggles Reshape the Future
The gap between Mexico’s telecom titans is widening. While Carlos Slim’s América Móvil continues its ascent, fueled by strategic government contracts and a dominant market share, Emilio Azcárraga Jean is stepping back from Televisa, and Ricardo Salinas Pliego battles legal and political headwinds. This isn’t just a shift in fortunes; it’s a fundamental restructuring of power at the intersection of business, media, and politics in Mexico, signaling a new era of uncertainty and opportunity.
Slim’s Enduring Empire: A Model of Strategic Alignment
Carlos Slim, at 85, isn’t just the richest man in Latin America – with a Bloomberg-estimated fortune of $112 billion – he’s a master of navigating the Mexican political landscape. His América Móvil, the backbone of Mexico’s telecommunications infrastructure, consistently ranks among the nation’s top companies, holding the third position in Expansión magazine’s 2025 list with net income of 869,220.6 million pesos. This success isn’t accidental. Slim’s recent meetings with President Claudia Sheinbaum, coupled with América Móvil securing contracts for key infrastructure projects like train construction, demonstrate a deeply ingrained relationship with the current administration – a continuation of the rapport built during the previous presidency.
Televisa’s Transition: From Family Control to Corporate Management
In stark contrast to Slim’s continued dominance, Emilio Azcárraga Jean is systematically relinquishing control of Televisa. His departure from day-to-day management in 2018, followed by stepping down as executive president in 2024 amidst a US Department of Justice investigation into the FIFAGate scandal, marks a significant shift. The sale of nearly half his shares in 2026 cemented this transition, handing voting control to Bernardo Gómez and Alfonso de Angoitia. While Televisa remains a major player – 89th in Expansión’s ranking with net income of 62,260.9 million pesos – its future is now defined by a professional management team rather than a single family’s vision.
Did you know? Televisa paid $95 million in 2023 to settle a class action lawsuit in the US related to the FIFAGate bribery allegations, highlighting the reputational risks associated with its past practices.
Salinas Pliego’s Battle: Confrontation and Fiscal Pressure
Ricardo Salinas Pliego, president of Grupo Salinas, faces the most turbulent situation of the three. His public clashes with President Sheinbaum, coupled with a Supreme Court ruling against him over substantial tax debts related to TV Azteca and Elektra, have created a hostile environment. While his fortune, estimated at $7.62 billion by Bloomberg, showed a recovery in 2025 after a significant dip due to Elektra’s stock suspension, the looming threat of a 51 billion peso tax demand from the SAT casts a long shadow. Salinas Pliego’s accusations of political persecution and even hints at a potential presidential run in 2030 underscore the high stakes of this conflict.
The Rise of Totalplay and the Decline of TV Azteca
Within Grupo Salinas, the performance of its subsidiaries paints a contrasting picture. Totalplay, the internet and telephone service, climbed to 122nd place in Expansión’s ranking, demonstrating growth potential. However, TV Azteca plummeted nearly 40 positions to 296th, reflecting the financial and political pressures impacting the traditional television network. This divergence suggests a strategic shift within the group, potentially prioritizing digital services over traditional broadcasting.
The Future of Mexican Telecoms: Fragmentation and New Opportunities
The diverging paths of Slim, Azcárraga Jean, and Salinas Pliego point to a fragmented future for Mexican telecommunications. Slim’s continued dominance isn’t guaranteed, as increased regulatory scrutiny and potential antitrust challenges could emerge. Azcárraga’s exit from direct control at Televisa opens the door for a more corporate-driven approach, potentially focusing on content creation and streaming services like ViX, especially with the 2026 World Cup providing a significant boost. Salinas Pliego’s struggles, however, could create opportunities for competitors to gain market share, particularly in the internet and digital services sector.
Expert Insight: “The Mexican telecom market is undergoing a period of significant transition. The traditional power structures are being challenged, and new players are emerging. The key to success will be adaptability, innovation, and a willingness to navigate the complex political landscape.” – Dr. Elena Ramirez, Telecommunications Analyst, Universidad Nacional Autónoma de México.
The increasing importance of 5G technology and the growing demand for digital services will further reshape the industry. Companies that can effectively invest in infrastructure, develop innovative content, and cater to the evolving needs of Mexican consumers will be best positioned to thrive. The government’s role in fostering competition and ensuring fair access to the market will also be crucial.
Navigating the New Landscape: Implications for Investors and Consumers
For investors, this shifting landscape presents both risks and opportunities. América Móvil remains a relatively stable investment, but its growth potential may be limited by regulatory constraints. Televisa, under new management, could offer higher growth potential, but also carries greater risk. Grupo Salinas is the most speculative investment, given the ongoing legal and political challenges.
Consumers, meanwhile, can expect increased competition and potentially lower prices as new players enter the market. The expansion of 5G networks will also bring faster internet speeds and more advanced digital services. However, concerns about data privacy and cybersecurity will need to be addressed to ensure a safe and secure digital experience.
Frequently Asked Questions
Q: What impact will the 2026 World Cup have on the Mexican telecom market?
A: The 2026 World Cup is expected to drive significant demand for internet and television services, particularly for Televisa, which holds the broadcasting rights. This will likely lead to increased investment in infrastructure and content creation.
Q: Is Carlos Slim’s relationship with the Mexican government a cause for concern?
A: The close relationship raises questions about fair competition and potential barriers to entry for other companies. Increased regulatory scrutiny could be expected.
Q: What are the biggest challenges facing Ricardo Salinas Pliego?
A: Salinas Pliego faces significant legal and political challenges, including a large tax debt and ongoing disputes with the government. These challenges could impact the future of Grupo Salinas.
Q: What role will 5G play in the future of Mexican telecoms?
A: 5G is expected to be a key driver of growth in the Mexican telecom market, enabling faster internet speeds, more advanced digital services, and new business opportunities.
The future of Mexican telecommunications is far from certain. However, one thing is clear: the old order is crumbling, and a new era of competition and innovation is dawning. Staying informed and adapting to these changes will be crucial for both businesses and consumers alike. What strategies will these companies employ to navigate this evolving landscape? Share your thoughts in the comments below!