TV Azteca Press Release
03 Octubre 2005 - 9:16PM
PR Newswire (US)
MEXICO CITY, Oct. 3 /PRNewswire-FirstCall/ -- TV Azteca, S.A. de
C.V. (BMV: TVAZTCA; Latibex: XTZA), one of the two largest
producers of Spanish-language television programming in the world
announced today that, The Bank of New York (BoNY) concluded the
sale -- in the Mexican Stock Market (BMV) -- of TV Azteca
Certificados de Participacion Ordinaria (CPOs) underlying American
Depositary Receipts (ADRs) that were not surrendered by holders
within a predetermined timeframe, in the process of termination of
the ADR program that the company had in the United States. As has
been detailed in prior company press releases, ADR holders had a 60
day period -- from July 18, 2005 to September 16, 2005 -- to
exchange their ADRs for CPOs traded on the BMV. On September 19,
2005, BoNY started to sell the CPOs underlying the ADRs that were
not surrendered. The selling process of such CPOs by BoNY has
concluded, and there are no remaining CPOs underlying ADRs that
were not surrendered within the 60 day period. The company had
previously announced that 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 continuing listed on a U.S.
national securities exchange. 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. Investor
Relations: Bruno Rangel Rolando Villarreal + 52 (55) 1720 9167 + 52
(55) 1720 0041 Press Relations: Tristan Canales Daniel McCosh + 52
(55) 1720 1441 + 52 (55) 1720 0059 DATASOURCE: TV Azteca CONTACT:
Investor Relations, Bruno Rangel of TV Azteca, +52-55-1720-9167, ;
or Rolando Villarreal, +52-55-1720-0041, , for TV Azteca; or Press
Relations, Tristan Canales, +52-55-1720-1441, , for TV Azteca; or
Daniel McCosh of TV Azteca, +52-55-1720-0059, Web site:
http://www.tvazteca.com.mx/
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