—13,4000 kilometers of fiber optic will provide telecommunications services to nearly 80% of the country—
—Government will provide US$760 million for the network installation—
—Solid progress from Azteca in the development of telecommunications projects that improve the quality of life of the Latin American population—
MEXICO CITY, Dec. 23, 2013 (GLOBE NEWSWIRE) -- TV Azteca, S.A.B. de C.V. (BMV: AZTECA; Latibex: XTZA), one of the two largest producers of Spanish-language television programming in the world, announced today that the company won a bid to install and operate a fiber optic network of 13,400 kilometers to cover nearly 80% of the territory of Peru.
The project consists of the construction of the network in 339 communities and the commercialization of telecommunications services in these areas. The Peruvian government will contribute approximately US$760 million to build the network, which will be installed over a period of two years starting in 2014.
Azteca supports the decision of the Peruvian government to subsidize the deployment of the network, in order to bring the most modern telecommunications services to remote areas of the country, at affordable prices, through efficient operations from a competitive company.
The positive result from the bid is a vote of confidence from the government and society of Peru regarding the technical and management capacity of Azteca to provide world class telecommunications services, which effectively drives the well-being of the population and business productivity. Azteca is currently building the largest fiber optic network in Latin America, in Colombia.
With this favorable result, Azteca will have an even more dynamic growth in the future, as well as revenue diversification and strengthening that will add to the strong performance of its broadcast television business.
The "Dorsal Fiber Optic Network of Peru" is a project developed for the Peruvian people, with the support of Colombian engineering and Mexican capital. This makes it the flagship project of the Pacific Alliance, the regional integration initiative formed by Chile, Colombia, Mexico and Peru, which seeks further growth, development and competitiveness of the economies of its members.
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. Azteca affiliates include Azteca America Network, a broadcast television network focused on the rapidly growing U.S. Hispanic market, and Azteca Web, an Internet company for North American Spanish speakers.
Azteca is a Grupo Salinas company (www.gruposalinas.com), a group of dynamic, fast-growing, and technologically advanced companies focused on creating shareholder value, contributing to build the middle class of the countries in which they operate, and improving society through excellence. Created by Mexican entrepreneur Ricardo B. Salinas (www.ricardosalinas.com), Grupo Salinas operates as a management development and decision forum for the top leaders of member companies. The companies include: Azteca (www.irtvazteca.com), Azteca America (www.aztecaamerica.com), Grupo Elektra (www.grupoelektra.com.mx), Banco Azteca (www.bancoazteca.com.mx), Advance America (www.advanceamerica.net), Afore Azteca (www.aforeazteca.com.mx), Seguros Azteca (www.segurosazteca.com.mx) and Grupo Iusacell (www.iusacell.com). Each of the Grupo Salinas companies operates independently, with its own management, board of directors and shareholders. Grupo Salinas has no equity holdings. However, member companies share a common vision, values and strategies for achieving rapid growth, superior results and world-class performance.
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. Other risks that may affect Azteca and its subsidiaries are identified in documents sent to securities authorities.
CONTACT: Investor Relations: Bruno Rangel + 52 (55) 1720 9167 firstname.lastname@example.org Rolando Villarreal +52 (55) 1720 91 67 email@example.com Press Relations: Luciano Pascoe Rippey +52 (55) 1720 1313, ext. 36553 Lpascoe@gruposalinas.com.mx Daniel McCosh +52 (55) 1720 0059 firstname.lastname@example.orgSource:TV Azteca, SAB de CV