MEXICO CITY, March 25 /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 it signed a strategic alliance with Latitud TV, television company of Guatemala, to transmit its programming in that country.
Ricardo B. Salinas, TV Azteca Chairman of the Board, announced that the expansion of TV Azteca will provide Guatemalan homes with unparalleled entertainment and information options.
Through the alliance, TV Azteca will acquire approximately 70% of the equity of Latitud TV and will transmit its content on UHF channels 31 and 35, which cover Guatemala City through broadcast television, and the entire country through cable.
"The agreement will broaden TV Azteca perspectives in a growing market with demographics that are very similar to ours and will allow Guatemalans to receive the most vibrant entertainment and the most timely information on television," commented Mr. Salinas. "We will use our programming, which has proven successful in Mexico and other Hispanic communities, to strengthen the company's positioning outside of our country and to further boost our financial results."
Starting May this year, TV Azteca expects to program and operate channels 31 and 35 of Guatemala and to sell its advertising, as well as to gradually gain an increasing share of the broadcast television advertising market in that country, which is estimated at more than US$100 million.
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, and Proyecto 40 that is broadcast in UHF. TV Azteca affiliates include Azteca America Network, a new broadcast television network focused on the rapidly growing U.S. Hispanic market, and Azteca Web, an Internet company for North American Spanish speakers.
TV Azteca is a Grupo Salinas company (http://www.gruposalinas.com/), a group of dynamic, fast growing, and technologically advanced companies focused on creating shareholder value and improving society through excellence. Created by Mexican entrepreneur Ricardo B. Salinas, Grupo Salinas operates as a management development and decision forum for the top leaders of member companies.
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. Other risks that may affect TV Azteca and its subsidiaries are identified in documents sent to securities authorities.
Investor Relations:
Bruno Rangel
+ 52 (55) 1720 9167
