—Congruent with the company’s firm strategic purpose that focuses on solid core operations in Mexico and maximizes profitability abroad—
—As part of the agreement, a seven-year licensing contract provides expanded distribution of TV Azteca Programming in the U.S.—
MEXICO CITY, Nov. 29, 2017 (GLOBE NEWSWIRE) -- TV Azteca, S.A.B. de C.V. (BMV:AZTECACPO) (Latibex:XTZA), one of the two largest producers of Spanish-language television programming in the world, announced today that in line with the company’s firm strategic purpose, it has sold Azteca America to HC2 Network Inc., a subsidiary of HC2 Holdings, Inc. (“HC2”) (NYSE:HCHC), a diversified holding company based in New York City.
“Last year, we announced the reinvention of TV Azteca that centers our strategic purpose on solid core operations in Mexico and on maximizing our profitability abroad,” said Benjamin Salinas, Chief Executive Officer of TV Azteca. “As a global industry leader in the production and distribution of world-class Spanish-language content, we doubled down on our commitment to deliver the most relevant, high-quality content to audiences outside of Mexico, in particular, in the United States. This transaction is a natural progression to our new value-driven vision and we look forward to partnering with HC2 Network and Azteca America on future content collaborations.”
Through this transaction, closed today, HC2 Network acquired Azteca America, some rights on part of its programming inventory, marketing, advertising sales, assets finance and operations. The transaction also includes a seven-year programming and services agreement that will allow HC2 Network to have access, under certain rules, to TV Azteca’s library and programming in Mexico, including top entertainment shows, talk shows, reality programs, network and local news, as well as telenovelas and other scripted series.
Philip Falcone, HC2’s Chairman, President and Chief Executive Officer, said, “Our licensing agreement with TV Azteca will enable our larger broadcast network to bring compelling Spanish-language programming to even more of the large, growing and underserved Spanish-speaking population in the U.S.”
Manuel Abud, President and Chief Executive Officer of Azteca America, who will remain at the helm of the network, said, “I would like to acknowledge Benjamin Salinas and the entire TV Azteca team in Mexico for their support over the past few years. We look forward to collaborating on stellar content initiatives in the future.”
“This new path forward will place us in an advantageous position to leverage our strengths and our expertise to meet the ever-changing demands of the marketplace and further solidify Azteca America as an industry leader in premium Spanish-language content,” added Mr. Abud.
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 TV Azteca and its subsidiaries are identified in documents sent to securities authorities.
About TV Azteca
TV Azteca is one of the two largest producers of Spanish-language television programming in the world, operating four television networks in Mexico, Azteca Trece, Azteca 7, adn40 and a+ through more than 300 owned and operated stations across the country. TV Azteca affiliates include Azteca US, a broadcast television network focused on the rapidly growing U.S. Hispanic market, and Azteca Web, an Internet company for North American Spanish speakers.
TV 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 TV Azteca (www.tvazteca.com; www.irtvazteca.com), Grupo Elektra (www.elektra.com.mx: 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), Totalplay (www.totalplay.com.mx) and Totalplay Empresarial (totalplayempresarial.com.mx). Each of the Grupo Salinas companies operates independently, with its own management, board of directors and shareholders. Grupo Salinas has no equity holdings. However, the member companies share a common vision, values and strategies for achieving rapid growth, superior results and world-class performance.
About HC2 Holdings Inc.
HC2 Holdings, Inc. is a publicly traded (NYSE:HCHC) diversified holding company, which seeks opportunities to acquire and grow businesses that can generate long-term sustainable free cash flow and attractive returns in order to maximize value for all stakeholders. HC2 has a diverse array of operating subsidiaries across seven reportable segments, including Construction, Marine Services, Energy, Telecommunications, Life Sciences, Insurance and Other. HC2's largest operating subsidiaries include DBM Global Inc., a family of companies providing fully integrated structural and steel construction services, and Global Marine Systems Limited, a leading provider of engineering and underwater services on submarine cables. Founded in 1994, HC2 is headquartered in New York, New York. Learn more about HC2 and its portfolio companies at www.hc2.com.
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TV Azteca, S.A.B. de C.V.
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Source: TV Azteca, SAB de CV