TV Azteca Announcement
July 15 2005 - 11:15PM
PR Newswire (US)
TV Azteca Announcement MEXICO CITY, July 15 /PRNewswire-FirstCall/
-- TV Azteca, S.A. de C.V. (BMV: TVAZTCA; NYSE: TZA; Latibex:
XTZA), one of the two largest producers of Spanish-language
television programming in the world announced today that, as was
previously informed, on July 18, 2005, the Bank of New York (BONY),
at the Company's instruction, will terminate the Company's American
Depositary Receipts (ADRs) program and, as a result, the New York
Stock Exchange (NYSE) will suspend trading of its ADRs. As of such
date, the Company's ADRs will not trade on the NYSE. As was
previously announced, at an Extraordinary Shareholders' Meeting
held on June 1, 2005, 99.85% of TV Azteca's shareholders approved
the termination of the ADR program, after an analysis and
discussion of the costs and benefits of continued listed in the
U.S. capital markets. As has been detailed, ADR holders will have
60 days to exchange their ADRs for CPOs traded on the Mexican Stock
Market. Upon the expiration of the 60- day period, BONY will be
allowed to sell the CPOs underlying the ADRs that were not
surrendered and distribute the proceeds of such sale to holders.
Company Profile TV Azteca is one of the two largest producers of
Spanish language television programming in the world, operating two
national television networks in Mexico, Azteca 13 and Azteca 7,
through more than 300 owned and operated stations across the
country. TV Azteca affiliates include Azteca America Network, a new
broadcast television network focused on the rapidly growing US
Hispanic market, and Todito.com, an Internet portal for North
American Spanish speakers. Except for historical information, the
matters discussed in this press release are forward-looking
statements and are subject to certain risks and uncertainties that
could cause actual results to differ materially from those
projected. Risks that may affect TV Azteca are identified in its
Form 20-F and other filings with the US Securities and Exchange
Commission. DATASOURCE: TV Azteca, S.A. de C.V. CONTACT: Investor
Relations:, Bruno Rangel, +52-55-1720-9167, , Rolando Villarreal,
+52-55-1720-0041, ; or Press Relations: Tristan Canales,
+52-55-1720-1441, , or Daniel McCosh, +52-55-1720-0059, , all of TV
Azteca, S.A. de C.V. Web site: http://www.tvazteca.com.mx/
Copyright