TV Azteca departs NYSE

Decision follows fraud charges by SEC

MEXICO CITY — TV Azteca, Mexico’s No. 2 net, said Friday it will delist from the New York Stock Exchange starting today.

The previously announced decision follows fraud charges by the U.S. Securities and Exchange Commission against TV Azteca topper Ricardo Salinas.

Holders of TV Azteca’s American Depository Receipts will have 60 days to exchange ADRs for CPOs traded on the Mexican Stock Market, TV Azteca said in a press release.

Shareholders voted in June to delist, and company cited high costs of meeting U.S. regulatory requirements.

In January the SEC filed civil fraud charges, alleging that Salinas made $109 million in profit from a 2003 debt deal involving telco Unefon, in which Salinas held a minority share. SEC wants to fine Salinas and ban him from sitting on the board of any U.S.-traded company.

Salinas-owned telco Iusacell and retailer Elektra will also delist from NYSE.

More Scene

  • Mr Chow 50th Anniversary celebration

    Mr. Chow 50th Anniversary Party Draws Stevie Wonder, Heidi Klum & More Stars

    MEXICO CITY — TV Azteca, Mexico’s No. 2 net, said Friday it will delist from the New York Stock Exchange starting today. The previously announced decision follows fraud charges by the U.S. Securities and Exchange Commission against TV Azteca topper Ricardo Salinas. Holders of TV Azteca’s American Depository Receipts will have 60 days to exchange […]

  • Paley Center for Media presents They

    African-American Showrunners Talk Strides in TV Representation

    MEXICO CITY — TV Azteca, Mexico’s No. 2 net, said Friday it will delist from the New York Stock Exchange starting today. The previously announced decision follows fraud charges by the U.S. Securities and Exchange Commission against TV Azteca topper Ricardo Salinas. Holders of TV Azteca’s American Depository Receipts will have 60 days to exchange […]

  • 'Annihilation' film premiere

    'Annihilation' Star Jennifer Jason Leigh Responds to Whitewashing Accusations

    MEXICO CITY — TV Azteca, Mexico’s No. 2 net, said Friday it will delist from the New York Stock Exchange starting today. The previously announced decision follows fraud charges by the U.S. Securities and Exchange Commission against TV Azteca topper Ricardo Salinas. Holders of TV Azteca’s American Depository Receipts will have 60 days to exchange […]

  • Viola Davis Women in the World

    Viola Davis on #MeToo: 'If You're Dedicated to Change, Let It Cost You Something'

    MEXICO CITY — TV Azteca, Mexico’s No. 2 net, said Friday it will delist from the New York Stock Exchange starting today. The previously announced decision follows fraud charges by the U.S. Securities and Exchange Commission against TV Azteca topper Ricardo Salinas. Holders of TV Azteca’s American Depository Receipts will have 60 days to exchange […]

  • LeBron James Stephen Curry All-Star Game

    NBA All-Star Weekend 2018: The Ultimate Party Guide

    MEXICO CITY — TV Azteca, Mexico’s No. 2 net, said Friday it will delist from the New York Stock Exchange starting today. The previously announced decision follows fraud charges by the U.S. Securities and Exchange Commission against TV Azteca topper Ricardo Salinas. Holders of TV Azteca’s American Depository Receipts will have 60 days to exchange […]

More From Our Brands

Access exclusive content