Mexican tycoon German Larrea resigned from the board of broadcaster Televisa over a potential conflict of interest arising from his interest in bidding in an upcoming tender for new television networks, Televisa said in a statement on Friday.

German Larrea, a reclusive tycoon who controls mining and infrastructure giant Grupo Mexico, aims to take part in the bidding for two new TV networks the government is creating, Televisa said.

The government is auctioning the networks to foment competition in a sector dominated by Emilio Azcarraga's Televisa and rival TV Azteca, which is controlled by Ricardo Salinas.

Grupo Mexico's image has taken a hit since a massive toxic spill in the northern state of Sonora in August led to threats that it could lose one of its biggest mining concessions.

It dodged that punishment last week but had to set aside $151 million dollars for a cleanup fund.

A group of media barons is already vying for the networks. The winners are expected to be announced by June.