Televisa plans 24-hour news channel

Outlet will compete with Milenio TV

MEXICO CITY -- Mexican broadcaster Televisa plans to launch a 24-hour cable news channel next year, chief executive Emilio Azcarraga posted on Twitter.

This would be Televisa's second attempt to run a 24-hour news channel after shutting its Noticias ECO initiative in 2001 because of low profitability.

ECO aired Spanish-language news round the clock for 13 years and its satellite footprint covered the Americas, Europe and northern Africa.

Televisa's new project will compete with Milenio TV, a one-year-old 24-hour television venture from privately owned Milenio newspaper group that has gathered a strong cable following with its no-frills 30-minute news segments.

"We were the first ones to launch a news channel with ECO, the others followed us. We are now correcting and improving," Azcarraga said on his Twitter feed.

Milenio TV has broken big stories recently, including the killing of drug lord Arturo Beltran Leyva by Mexican security forces last week and the closing in October of the state-owned company that supplied electricity to Mexico City.

A company spokesman confirmed the message, posted on Twitter on Friday, was from Azcarraga.

The new Televisa channel has yet to be named.