Vazquez parachuting Sky for Nortel

Current VP of finances Penna to take position

MEXICO CITY — Sky Mexico director Pablo Vazquez will ankle later this month to become Latin American VP of Nortel Networks.

His successor will be Alex Penna, currently veep of finances for Grupo Televisa.

Broadcaster Televisa owns Sky, the largest satcaster in Mexico, which has picked up 900,000 subs since its launch seven years ago.

Vazquez was CEO of Cablevision and took the reins of Sky in May 2002, after its chief died in a car crash.

The change comes as the satellite provider is poised to seize a far larger role in the Mexican restricted-access marketplace. Televisa execs traveled to New York recently to meet with News Corp. execs about merging Sky with DirectTV Latin America.

News Corp. is buying Hughes Electronics, which controls DirecTV’s international platforms. News Corp. controls Sky’s international platform, and insiders have long suggested that should the acquisition go through, the two services would be joined.

In Mexico, it would put the already dominant Sky in an unrivaled position for growth. The company projects $45 million in capital investment for this year.

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