SEC Considers Settlement Proposal With TV Azteca

SEC Considers Settlement Proposal With TV Azteca

MEXICO CITY, May 29 /PRNewswire/ -- 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 as a result of conversations between the company and the US Securities and Exchange Commission (SEC), which were previously disclosed, a potential settlement has been structured. The proposed settlement will be reviewed by the SEC, which anticipates reaching a conclusion as to whether to proceed within 90 days.

The proposed settlement, if accepted by the SEC, would not entail economic consequences for TV Azteca. Ricardo B. Salinas and Pedro Padilla would bear the monetary costs resulting from this proposal.

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 new broadcast television network focused on the rapidly growing US Hispanic market, and Todito, 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 filings with securities authorities.

Source: TV Azteca, S.A. de C.V.

CONTACT: Investors, Bruno Rangel of TV Azteca, + 52 (55) 1720 9167,
jrangelk@tvazteca.com.mx; or Media, Tristan Canales, + 52 (55) 1720 1441,
tcanales@gruposalinas.com.mx, for TV Azteca; or Daniel McCosh of TV Azteca,
+ 52 (55) 1720 0059, dmccosh@tvazteca.com.mx

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