Cablevision expands CEO’s role

World Brief

Cabler Cablevision has expanded CEO Mariano Ibanez’s duties to include running its Internet operation Fibertel, effective from Monday.

Ibanez replaces Francisco de la Mano, who left after 16 months. Under De la Mano, Fibertel increased subscribers by around 40% to 70,000 as of April 30.

The growth came despite the country’s economic crisis as Argentines shifted to fixed-cost services in the face of 40% inflation and rising job insecurity.

The move is part of a strategy started in January 2002 to integrate the companies, whose shareholders include the U.S. companies Hicks, Muse, Tate & Furst and Liberty Media, in an effort to cut administrative, marketing and payroll costs.

Ibanez said his first step as the new boss is to expand Fibertel to Rosario, a large, port city to the northeast of Buenos Aires.

Cablevision is the leading cabler in Argentina, with 1.3 million subscribers.

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