MEXICO CITY, June 30 /PRNewswire-FirstCall/ -- Grupo Radio Centro, S.A. de C.V. (BMV: RCENTRO-A, NYSE: RC) ("Grupo Radio Centro" or the "Company"), Mexico's leading radio broadcasting company today filed its annual report for the year ended December 31, 2005 with the Bolsa Mexicana de Valores, S.A. de C.V., the Comision Nacional Bancaria y de Valores in Mexico and with the Securities and Exchange Commission in the United States. The Company is pleased to announce that its annual report includes a report by its management assessing the effectiveness of the Company's internal control over financial reporting, as well as an attestation by the Company's independent auditor pursuant to Section 404 of the Sarbanes-Oxley Act of 2002.
Grupo Radio Centro is one of the first Mexican companies to voluntarily comply with the internal control evaluation requirements under Section 404 in advance of the deadline applicable to non-accelerated filers.
Company Description:
Grupo Radio Centro owns and/or operates 14 radio stations. Of these 14 radio stations, Grupo Radio Centro operates 11 in Mexico City. The Company's principal activities are the production and broadcasting of musical and entertainment programs, talk shows, news and special events programs. Revenue is primarily derived from the sale of commercial airtime. The Company also operates a radio network, Organizacion Impulsora de Radio, which acts as the national sales representative for, and provides programming to, Grupo Radio Centro-affiliated radio stations.
Note on Forward-Looking Statements: This release may contain projections or other forward-looking statements related to Grupo Radio Centro that involve risks and uncertainties. Readers are cautioned that these statements are only predictions and may differ materially from actual future results or events. Readers are referred to the documents filed by Grupo Radio Centro with the United States Securities and Exchange Commission, specifically the most recent filing on Form 20-F, which identifies important risk factors that could cause actual results to differ from those contained in the forward-looking statements. All forward-looking statements are based on information available to Grupo Radio Centro on the date hereof, and Grupo Radio Centro assumes no obligation to update such statements.
