prnewswire.com
MEXICO CITY, Oct. 6 /PRNewswire-FirstCall/ -- TV Azteca, S.A. de C.V.
(NYSE: TZA; BMV: TVAZTCA), one of the two largest producers of Spanish
language television programming in the world, announced today that on or
around August 27, 2004, the staff of the US Securities and Exchange Commission
(SEC) issued Wells Notices to TV Azteca and certain executives and directors
of the company, alleging violations of the US federal securities laws, and
stating the intention of the staff to recommend that the SEC bring a civil
injunctive action against TV Azteca. TV Azteca's Wells Notice also states
that, in connection with the contemplated civil injunctive action, the SEC may
seek permanent injunctive relief and civil monetary penalties.
At this time, TV Azteca cannot predict the outcome of the SEC's
investigation; however, the SEC may impose fines or penalties that could have
a material adverse effect on TV Azteca's financial condition and result of
operations.
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 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.
SOURCE TV Azteca, S.A. de C.V.
Web Site: tvazteca.com.mx |
