MEXICO CITY, Sept. 22 /PRNewswire-FirstCall/ -- Grupo Radio Centro, S.A. de C.V. (BMV: RCENTRO-A) ("Grupo Radio Centro" or "the Company"), Mexico's leading radio broadcasting company, announced that the Company will distribute the remaining Ps. 50,000,000 (or Ps. 0.30840351276 per share) from the reduction of its fixed capital stock.
The amount of Ps. 50,000,000 (fifty million Mexican pesos), or Ps. 0.30840351276 per share, is payable to shareholders of record as of September 29, 2006, and will be deposited with S.D. Indeval, S.A. de C.V., the Mexican securities depositary, on October 2, 2006, to be distributed beginning at that date.
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.
