Azteca in talks with SEC over Pliego

Execs charged with concealing information

Mexico’s No. 2 net TV Azteca on Monday said it was in talks with the U.S. Securities and Exchange Commission after speculation that topper Ricardo Salinas Pliego had reached a deal to avert trial over fraud charges.

TV Azteca said in a statement that it remained in “good faith” talks with the SEC, but that it had “no additional information to divulge at this time.” A TV Azteca spokesman could not comment on the case.

Early last year, the SEC charged Salinas Pliego and two other execs with concealing information from stockholders on a debt deal that netted Salinas Pliego $109 million.

It was the first time that foreign executives were charged with violating  tough securities regulations established by the Sarbanes-Oxely act.

However, the SEC was apparently unable to officially serve legal papers to Salinas Pliego so that the trial could move ahead.

Shares in Mexico City of the billionaire’s TV Azteca, mobile phone company Iusacell and discount retailer Elektra jumped late last week on rumors that Salinas had brokered a deal with regulators.

More TV

  • Arrested Development's Jessica Walter and Jason

    The Familiar Frustration of Jessica Walter's 'Arrested Development' Experience

    Mexico’s No. 2 net TV Azteca on Monday said it was in talks with the U.S. Securities and Exchange Commission after speculation that topper Ricardo Salinas Pliego had reached a deal to avert trial over fraud charges. TV Azteca said in a statement that it remained in “good faith” talks with the SEC, but that […]

  • James Corden TBS Drop the Mic

    James Corden Drove a Porsche in Last Night's 'Carpool Karaoke' Thanks to Ad Deal

    Mexico’s No. 2 net TV Azteca on Monday said it was in talks with the U.S. Securities and Exchange Commission after speculation that topper Ricardo Salinas Pliego had reached a deal to avert trial over fraud charges. TV Azteca said in a statement that it remained in “good faith” talks with the SEC, but that […]

  • Simon Pegg and Nick Frost’s Stolen

    Simon Pegg, Nick Frost Pact With Up-and-Coming Writers on YA Projects (EXCLUSIVE)

    Mexico’s No. 2 net TV Azteca on Monday said it was in talks with the U.S. Securities and Exchange Commission after speculation that topper Ricardo Salinas Pliego had reached a deal to avert trial over fraud charges. TV Azteca said in a statement that it remained in “good faith” talks with the SEC, but that […]

  • Mar Coll Talks Patriarchy, the New

    Movistar +’s First Woman Director, Mar Coll, Talks Patriarchy, the New Spain

    Mexico’s No. 2 net TV Azteca on Monday said it was in talks with the U.S. Securities and Exchange Commission after speculation that topper Ricardo Salinas Pliego had reached a deal to avert trial over fraud charges. TV Azteca said in a statement that it remained in “good faith” talks with the SEC, but that […]

  • 'Homicide: Life on the Street' Cast

    'Homicide: Life on the Street' Cast Reunites at Paley Center

    Mexico’s No. 2 net TV Azteca on Monday said it was in talks with the U.S. Securities and Exchange Commission after speculation that topper Ricardo Salinas Pliego had reached a deal to avert trial over fraud charges. TV Azteca said in a statement that it remained in “good faith” talks with the SEC, but that […]

  • Jason Bateman Jeffrey Tambor Arrested Development

    Emmy Season Faces #MeToo for the First Time

    Mexico’s No. 2 net TV Azteca on Monday said it was in talks with the U.S. Securities and Exchange Commission after speculation that topper Ricardo Salinas Pliego had reached a deal to avert trial over fraud charges. TV Azteca said in a statement that it remained in “good faith” talks with the SEC, but that […]

More From Our Brands

Access exclusive content