Shareholders back TV Azteca’s Colombian operation | Cable | News | Rapid TV News
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Grupo Salinas has received the necessary shareholder investment to enable it to leave TV Azteca’s Colombian unit and focus on the Mexican market.

azteca comunicaciones colombiaAccording to Grupo Salinas, TV Azteca’s shareholders will contribute $60 million into Azteca Comunicaciones Colombia under the terms of the agreement reached last November.

Following poor Q3 2016 results, TV Azteca immediately announced the intention of reducing investment outside Mexico and increasing the budget for content production and Mexico’s free-to-air (FTA) TV.

After an internal audit, Grupo Salinas estimated that a $100 million investment was necessary in Colombia to develop TV Azteca’s plans in the country (including finalising its cable network), in which the group has already invested $40 million.

Therefore, a $60 million capitalisation was needed from the group’s shareholders, which has now been formally agreed.

“With this decision, the company will be able to focus on FTA TV, which has great prospects, and strengthen its position within Mexico’s media market,” said Grupo Salinas.

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