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TV Azteca is owned by Grupo Salinas. The CEO of the Grupo Salinas conglomerate is Ricardo Salinas Pliego.
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![\"\"](\"https:\/\/en.wikipedia.org\/wiki\/TV_Azteca#\/media\/File:Logotipo_de_TV_Azteca.svg\/2\")
![JGTorresH<\/a><\/figcaption><\/figure>\n<\/div>\n\n\nSalinas may possibly run for President of Mexico in 2030. (See Will Ricardo Salinas Run for President of Mexico in 2030?<\/a>)<\/p>\n\n\n\nTV Azteca is in a financial bind and is entering a bankruptcy proceeding. <\/p>\n\n\n\nFrom Reuters via Investing.com<\/a>: “Mexican broadcaster TV Azteca\u00a0said on Thursday [February 26] that shareholders had approved a voluntary bankruptcy process for restructuring the company\u2019s finances and liabilities.”<\/strong><\/p>\n\n\n\nTV Azteca’s explanation?<\/p>\n\n\n\n“TV Azteca, controlled by Mexican business magnate Ricardo Salinas Pliego, blamed the bankruptcy process on multiple factors: the recent payment of nearly $2 billion in back taxes to Mexican authorities, a ‘complex negotiation’ with international creditors, the pandemic and the impact of license payments to the government in 2018.\u00a0 The company also pointed to ‘profound transformations’ in the television industry, including changes in the advertising market. TV Azteca is one of Mexico\u2019s most-watched broadcasters.”<\/strong><\/p>\n\n\n\n\u201c ‘This is a last\u2011resort tool aimed at preserving the value of the company, ensuring the continuity of its operations, and facilitating the orderly fulfillment of its obligations without interrupting its functioning,’ Rafael Rodriguez, TV Azteca\u2019s CEO, said in a statement.”<\/strong><\/p>\n\n\n\n“Under Mexican law, the bankruptcy process will seek an agreement between the company and creditors to restructure its debts and avoid closure. If no deal is reached, the company\u2019s assets will be sold off to pay creditors. The process usually lasts six months.”\u00a0<\/strong><\/p>\n\n\n\n“Trading in the broadcaster\u2019s shares on the Mexican stock exchange has been suspended since 2023, when the company failed to file its corporate results.”<\/strong><\/p>\n\n\n\nThere’s a political angle here. <\/p>\n\n\n\n“Salinas, a conservative, has had fights with left-wing President Claudia Sheinbaum and her allies over the past year amid a public feud over his back taxes. Sheinbaum repeatedly accused Salinas of being a tax dodger; he accused the government of extortion. Sheinbaum\u2019s government had threatened to seize assets and revoke broadcast licenses if Salinas did not pay. The president has made an aggressive push to increase tax revenue to fund an expanding slate of social programs.”\u00a0<\/strong><\/p>\n\n\n\n“Last month, Salinas\u2019 conglomerate Grupo Salinas said it would pay 32 billion Mexican pesos ($1.86 billion) to conclude 20 years of tax disputes with the Mexican government. Sheinbaum had previously said his companies owed more than $4 billion.”<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"TV Azteca is Mexico’s second-biggest media company, after Televisa. TV Azteca is owned by Grupo Salinas. The CEO of the Grupo Salinas conglomerate is Ricardo Salinas Pliego. Salinas may possibly run for President of Mexico in 2030. (See Will Ricardo … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[684,754,682,755],"class_list":["post-3574","post","type-post","status-publish","format-standard","hentry","category-politics","tag-grupo-salinas","tag-mexican-media","tag-ricardo-salinas-pliego","tag-tv-azteca"],"_links":{"self":[{"href":"https:\/\/mexiconewsreport.com\/index.php\/wp-json\/wp\/v2\/posts\/3574","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mexiconewsreport.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mexiconewsreport.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mexiconewsreport.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mexiconewsreport.com\/index.php\/wp-json\/wp\/v2\/comments?post=3574"}],"version-history":[{"count":3,"href":"https:\/\/mexiconewsreport.com\/index.php\/wp-json\/wp\/v2\/posts\/3574\/revisions"}],"predecessor-version":[{"id":3582,"href":"https:\/\/mexiconewsreport.com\/index.php\/wp-json\/wp\/v2\/posts\/3574\/revisions\/3582"}],"wp:attachment":[{"href":"https:\/\/mexiconewsreport.com\/index.php\/wp-json\/wp\/v2\/media?parent=3574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mexiconewsreport.com\/index.php\/wp-json\/wp\/v2\/categories?post=3574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mexiconewsreport.com\/index.php\/wp-json\/wp\/v2\/tags?post=3574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/en.wikipedia.org\/wiki\/Ricardo_Salinas_Pliego#\/media\/File:Ricardo_Salinas_Pliego_2020-1_(cropped).jpg\"){kind=link}
Salinas may possibly run for President of Mexico in 2030. (See Will Ricardo Salinas Run for President of Mexico in 2030?<\/a>)<\/p>\n\n\n\n TV Azteca is in a financial bind and is entering a bankruptcy proceeding. <\/p>\n\n\n\n From Reuters via Investing.com<\/a>: “Mexican broadcaster TV Azteca\u00a0said on Thursday [February 26] that shareholders had approved a voluntary bankruptcy process for restructuring the company\u2019s finances and liabilities.”<\/strong><\/p>\n\n\n\n TV Azteca’s explanation?<\/p>\n\n\n\n “TV Azteca, controlled by Mexican business magnate Ricardo Salinas Pliego, blamed the bankruptcy process on multiple factors: the recent payment of nearly $2 billion in back taxes to Mexican authorities, a ‘complex negotiation’ with international creditors, the pandemic and the impact of license payments to the government in 2018.\u00a0 The company also pointed to ‘profound transformations’ in the television industry, including changes in the advertising market. TV Azteca is one of Mexico\u2019s most-watched broadcasters.”<\/strong><\/p>\n\n\n\n \u201c ‘This is a last\u2011resort tool aimed at preserving the value of the company, ensuring the continuity of its operations, and facilitating the orderly fulfillment of its obligations without interrupting its functioning,’ Rafael Rodriguez, TV Azteca\u2019s CEO, said in a statement.”<\/strong><\/p>\n\n\n\n “Under Mexican law, the bankruptcy process will seek an agreement between the company and creditors to restructure its debts and avoid closure. If no deal is reached, the company\u2019s assets will be sold off to pay creditors. The process usually lasts six months.”\u00a0<\/strong><\/p>\n\n\n\n “Trading in the broadcaster\u2019s shares on the Mexican stock exchange has been suspended since 2023, when the company failed to file its corporate results.”<\/strong><\/p>\n\n\n\n There’s a political angle here. <\/p>\n\n\n\n “Salinas, a conservative, has had fights with left-wing President Claudia Sheinbaum and her allies over the past year amid a public feud over his back taxes. Sheinbaum repeatedly accused Salinas of being a tax dodger; he accused the government of extortion. Sheinbaum\u2019s government had threatened to seize assets and revoke broadcast licenses if Salinas did not pay. The president has made an aggressive push to increase tax revenue to fund an expanding slate of social programs.”\u00a0<\/strong><\/p>\n\n\n\n “Last month, Salinas\u2019 conglomerate Grupo Salinas said it would pay 32 billion Mexican pesos ($1.86 billion) to conclude 20 years of tax disputes with the Mexican government. Sheinbaum had previously said his companies owed more than $4 billion.”<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" TV Azteca is Mexico’s second-biggest media company, after Televisa. TV Azteca is owned by Grupo Salinas. The CEO of the Grupo Salinas conglomerate is Ricardo Salinas Pliego. Salinas may possibly run for President of Mexico in 2030. (See Will Ricardo … Continue reading