Televisa Exec Adolfo Lagos Shot and Killed in Mexico

Mexico authorities are investigating.

Adolfo Lagos, head of Televisa's cable TV platform Izzi, died Sunday after he was shot by armed men attempting to rob him of his bicycle during a ride outside Mexico City.

State of Mexico authorities are investigating the incident, which occurred along the Tulancingo-Piramides highway, the road to the pyramids of Teotihuacan. Lagos died in a local hospital as a result of his gunshot wounds.

Mexican President Enrique Pena Nieto offered condolences to Lagos' family on Twitter and said federal and state authorities were working together to find and arrest the assailants.

“On behalf of the Televisa Board of Directors and our entire team, it is with great sadness that we announce the unexpected passing of Adolfo Lagos. This is a profound loss. Adolfo was a trusted and valued member of Grupo Televisa and a very close personal friend,” Alfonso de Angoitia, co-chief executive of Televisa, said Monday in a statement. “We will miss his passion, his commitment and his friendship.”

Lagos, a former bank executive, joined Televisa in 2013 and played a key role in the company’s consolidation efforts of the cable industry and the modernization of its cable operations. News of Lagos' death comes at a difficult time for Televisa as the Mexican media giant struggles with a drop in ratings and grapples with the recent resignation of longtime chief executive Emilio Azcarraga.

According to Mexican daily El Universal, Lagos, 69, was riding along the highway with a person named Luis Reynoso Gutierrez when armed gunmen awaiting in a cactus field ambushed them. The paper reported that a bodyguard was following behind the cyclists in a Jeep and shot at the assailants, wounding one of them, but they managed to escape.