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To: - with a K who wrote (35952)	12/24/2003 11:17:59 AM
From: - with a K	Respond to of 118717

Reuters story on TZA: TV Azteca shares fall on report of legal dispute 10:58 a.m. 12/24/2003 NEW YORK, Dec 24 (Reuters) - Shares of TV Azteca, Mexico's No. 2 broadcaster, fell on Wednesday after the New York Times reported that outside lawyers have told the company's board they believe it violated U.S. securities laws. TV Azteca's (TVAZTCACPO) (TZA) American Depositary Receipts fell as much as 11.5 percent in morning trade on the New York Stock Exchange. Local shares in Mexico dropped as much as 10 percent. The newspaper said company executives refused to make disclosures demanded by the outside lawyers, who cited a new provision of the Sarbanes-Oxley U.S. corporate reform act that requires them to notify the company's board and allows them to contact regulators as well. A TV Azteca spokesman, contacted by Reuters, declined to comment. The broadcaster has been in a long-running dispute with outside lawyers over the need for fuller disclosure about deals that could have resulted in more than $100 million in profit to company chairman and majority owner Ricardo Salinas, the newspaper reported. In a letter to the boards of TV Azteca and parent firm Azteca Holdings this month, Steven Scheinman, a partner in Akin Gump Strauss Hauer & Feld, said his firm was withdrawing as company counsel on a pending bond offering and that it might also notify the Securities and Exchange Commission about its decision and the reasons behind, the Times reported. The letter said the law firm decided to withdraw as counsel because it decided that the company had not told investors enough about Salinas' role in deals conducted by TV Azteca's cell-phone service unit Unefon, the Times said. Its depositary receipts fell 70 cents, or 7.1 percent, to $9.10 in New York after declining as low as $8.67. Local shares were down 6.5 percent to 6.37 pesos.

To: - with a K who wrote (35952)	12/24/2003 11:18:59 AM
From: Dale Baker	Read Replies (1) \| Respond to of 118717

Just chill a bit and let the dust settle with TZA. Cramer applauded Herbie Greenberg when he slammed NFI many, many points ago. I wouldn't worry about his hysterics too much, he has the attention span (and manners) of a six-year-old.