MEXICO CITY (Reuters) - Mexico's Federal Competition Commission said on Friday it will begin an investigation into alleged monopolistic practices by the country's broadcasters.

The commission, known as Cofeco, said it will investigate practices in the market for TV content. Cofeco did not give further details.

Mexico's TV sector is dominated by two players, Televisa and TV Azteca.

Televisa, the biggest producer of Spanish-language content in the world, has a 7 percent stake in BMP, the controlling company of privately held U.S. network and partner Univision Communications Inc.

Televisa shares were down 0.16 percent at 56.34 pesos, while TV Azteca shares were up 0.8 percent at 8.72 pesos in early afternoon trading.

(Reporting by Elinor Comlay; Editing by Gerald E. McCormick)