You will be redirected back to your article in seconds

Mexico’s Elektra to sell TV Azteca stake

Private deal valued at $316 mil

Mexican retailer Elektra will sell its 18.3% indirect stake in No. 2 broadcaster TV Azteca in a private deal valued at $316 million. Both Elektra and TV Azteca are controlled by Azteca chairman and CEO Ricardo Salinas Pliego.

The Elektra board will give a group headed by Salinas Pliego the option to buy the stake alone or with a strategic partner.

In recently reported second quarter results, Azteca revenue rose 22% in dollar terms to $143 million. While ad revs were up, exports fell by 50% to just $4 million, reflecting Azteca’s decision to suspend programming sales to U.S. broadcasters while it seeks an equity participation in a US Spanish-lingo net in exchange for programming.

More Biz

  • Harvey Weinstein ousted

    Weinstein Co. Adds Board Member to Navigate Bankruptcy Sale

    Mexican retailer Elektra will sell its 18.3% indirect stake in No. 2 broadcaster TV Azteca in a private deal valued at $316 million. Both Elektra and TV Azteca are controlled by Azteca chairman and CEO Ricardo Salinas Pliego. The Elektra board will give a group headed by Salinas Pliego the option to buy the stake […]

  • Allison Mack

    'Smallville' Actress Allison Mack Arrested in Sex Cult Case

    Mexican retailer Elektra will sell its 18.3% indirect stake in No. 2 broadcaster TV Azteca in a private deal valued at $316 million. Both Elektra and TV Azteca are controlled by Azteca chairman and CEO Ricardo Salinas Pliego. The Elektra board will give a group headed by Salinas Pliego the option to buy the stake […]

  • Harvey Weinstein

    Harvey Weinstein Still Seeking His Emails to Combat Sexual Assault Claims

    Mexican retailer Elektra will sell its 18.3% indirect stake in No. 2 broadcaster TV Azteca in a private deal valued at $316 million. Both Elektra and TV Azteca are controlled by Azteca chairman and CEO Ricardo Salinas Pliego. The Elektra board will give a group headed by Salinas Pliego the option to buy the stake […]

  • ynon-kreiz

    Media Exec Ynon Kreiz Named CEO of Mattel

    Mexican retailer Elektra will sell its 18.3% indirect stake in No. 2 broadcaster TV Azteca in a private deal valued at $316 million. Both Elektra and TV Azteca are controlled by Azteca chairman and CEO Ricardo Salinas Pliego. The Elektra board will give a group headed by Salinas Pliego the option to buy the stake […]

  • courtney braun

    Courtney Braun Named Head of Legal Affairs for Endeavor

    Mexican retailer Elektra will sell its 18.3% indirect stake in No. 2 broadcaster TV Azteca in a private deal valued at $316 million. Both Elektra and TV Azteca are controlled by Azteca chairman and CEO Ricardo Salinas Pliego. The Elektra board will give a group headed by Salinas Pliego the option to buy the stake […]

  • Randall Stephenson

    AT&T-Time Warner Trial: Randall Stephenson Takes Stand and Defends Merger

    Mexican retailer Elektra will sell its 18.3% indirect stake in No. 2 broadcaster TV Azteca in a private deal valued at $316 million. Both Elektra and TV Azteca are controlled by Azteca chairman and CEO Ricardo Salinas Pliego. The Elektra board will give a group headed by Salinas Pliego the option to buy the stake […]

More From Our Brands

Access exclusive content