TV Azteca settles with the SEC.

TV Azteca, S.A. de C.V. (BMV: TVAZTCA; Latibex: XTZA) announced today that the US Securities and Exchange Commission (SEC) has agreed to settle its dispute with the company, its parent company (Azteca Holdings), Ricardo B. Salinas and Pedro Padilla.

The settlement does not entail economic consequences for TV Azteca or Azteca Holdings. Ricardo B. Salinas and Pedro Padilla will bear the monetary costs resulting from the agreement.

TV Azteca concludes today a two-year long legal dispute, and expects the settlement to provide with further efficiencies to the company, additionally strengthening its financial position and operations. “We are pleased with the benefits that an agreement with no cost for TV Azteca brings to the value of the investment of all our shareholders, and to the upcoming performance of the company,” commented Mario San Roman, CEO of TV Azteca.

The company expects the agreement to be approved by the US District Court of DC in the near future.