The Federal Telecommunications Institute reports about the consideration payment for the second national broadcasted television network by Grupo Radio Centro, S.A.B. de C.V. (Press Release 26/2015)
The Federal Telecommunications Institute reports about the consideration payment for the second national broadcasted television network by Grupo Radio Centro, S.A.B. de C.V.
• Grupo Radio Centro, S.A.B. DE C.V. fail to make the payment of the consideration in the Tender No. IFT-1
Grupo Radio Centro, S.A.B. DE C.V., Winner Participant in the Tender No. IFT-1, announced that no they did not make the payment referred to in the Tender for awarding the concession titles.
This will mean that in terms of the own Tender, the ruling runs out effects and is declared void regarding the National Network in which Grupo Radio Centro, S.A.B. DE C.V. was declared Winner Participant. Thus, the Institute proceed to the execution of the bid bond for $ 415,000,000 (four hundred and fifteen million pesos) granted by the group during the process, in terms of the provisions of the Bidding.
The decision to not make the payment in respect of the bids submitted by the bidders in the process, belongs exclusively to them, while the Institute is responsible for implementing the legal consequences mentioned in the Tender Bases, published since March 7th, 2014.
In fulfilling its mandate to ensure the efficient development of telecommunications and broadcasting sectors, as well as the efficient use of the radio spectrum, the Institute will swiftly discuss the actions to take regarding the frequencies bands that have become available.
