[3] Vargas was an entrepreneur who created dozens of businesses in a variety of fields, including tool factories and gas stations in the Mexico City area.
[5] Shortly after he founded Stereorey, he became the president and director general of another innovative broadcaster based in Monterrey, Televisión Independiente de México (TIM).
The first location of the concept that launched CMR, Wings, was established in a retired North Star DC-4 parked near the Mexico City International Airport.
[3][6][1] Through his life, Vargas served in a variety of industry capacities, including a term as president of the National Chamber of the Radio and Television Industry (CIRT), the national association of broadcasters, as well as seats on the boards of CONCANACO, Banamex, the Universidad Anáhuac and El Universal newspaper.
He died on 28 November 2009 of natural causes, after having suffered from Parkinson's disease since the 1990s;[1][2] President Felipe Calderón issued an official statement lamenting the loss of "a businessman who contributed to the development of the radio industry in Mexico".