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#Videocrux - Billionaire Pinera wins Chile's presidency Billionaire Pinera wins Chile's presidency
A billionaire media magnate, Sebastian Pinera, is to become the next president of Chile after a runoff election Sunday that put an end to a 20-year hold on power by the leftwing coalition of outgoing head-of-state Michelle Bachelet.
Sebastian Pinera casts his vote
The victory by Pinera, 60, marked the defeat of the Concertacion coalition of four leftwing and centrist parties that had governed Chile since the 1990 exit of dictator General August Pinochet. The billionaire, who owns one of Chile's four television networks and a big stake in flagship airline LAN among many other business interests, is seen likely to continue social policies that left Bachelet with skyhigh popularity ratings of around 80 percent. He promised though, that the change represented by his victory would be "like opening the window to let fresh air in."
Pinera exits Santiago de Chile polling booth

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