Mexico’s Televisa replaces $600 mln in debt
Mexico’s No. 1 broadcaster Televisa said on Wednesday it had successfully replaced $600 million in existing debt with identical new paper in a technical operation to comply with U.S. market regulations.
Televisa (TLVSCPO.MX: Quote, Profile, Research) (TV.N: Quote, Profile, Research) said its month-long offer to exchange debt with a coupon of 6.625 percent and maturing in 2025 for identical new paper closed on Tuesday.
“The total amount of old debt was exchanged for new bonds, corresponding to $600 million in new bonds issued today, September 7, 2005,” Televisa said.
The operation was a purely technical one to replace existing debt with bonds registered under the U.S. Securities Act of 1933, Televisa said.
Source: today.reuters.com
Mexico's Televisa, Univision legal fight heats up
A legal dispute between Televisa and its U.S. partner, Univision, has escalated, with the Mexican broadcaster filing two more claims in a fight over royalties,
Televisa (TV.N: Quote, Profile, Research) (TLEVISACPO.MX: Quote, Profile, Research) said on Friday it amended an existing suit against Univision to include new claims that the U.S. company aired sports programs from Televisa outside an existing programming deal and has refused to air Televisa advertising.
In May, Televisa filed suit against Univision Communications Inc. (UVN.N: Quote, Profile, Research) in U.S. District Court in the Central District of California over royalties, and its
UPDATE 3-Mexico's Televisa bids for Spanish TV license
Grupo Televisa, the world's top producer of Spanish-language programming, is bidding for a license to operate broadcast television in Spain, expanding its reach to tap a 2.7 billion euro ($2.24 billion) advertising market.
Televisa (TV.N: Quote, Profile, Research) (TLEVISACPO.MX: Quote, Profile, Research) said on Monday it teamed with a group of investors for a concession granted by the Spanish government that would give them access to one analog and two digital channels with national coverage.
"Televisa will have a stake of 40 percent in the consortium, while a group of Spanish investors led by Grupo
The Tail Wags the Dog: Mexicos Televisa Law Another Nail in the Coffin of Foxs Legacy
Reforms to Mexicos media laws will likely concentrate power (and additional billions) in the hands of the already dominant Televisa juggernaut
Despite wellfounded concerns over the potential effects that the changes could have on Mexican democracy, the Mexican Congress pushed the modifications through, and Fox signed off on the measure
The reckless manner in which the reforms were approved reveals that lingering apprehensions over the quality of Mexicos political institutions, even nearly six years after the end of the authoritarian system, are grounded in reality
UPDATE 3-Political ads boost Q2 profit at Mexico's Televisa
MEXICO CITY, July 14 (Reuters) - Mexican broadcaster Televisa's second-quarter net profit rose 165 percent, driven by rising political advertising and better results at its satellite business, the company said on Thursday.
It also increased its broadcast television sales outlook for the rest of the year.
Televisa (TV.N: Quote, Profile, Research)(TLEVISACPO.MX: Quote, Profile, Research) earned 1.277 billion pesos ($118.5 million) in the quarter to end-June compared with 482 million pesos a year earlier, when it had a one-time charge from losses at its Sky satellite unit.
More: today.reuters.com
Mexico's TV Azteca to prepay 1.4 bln pesos of debt
Mexico's No. 2 broadcaster TV Azteca said on Friday that this month it will prepay 1.406 billion pesos ($131 million) of debt with local bank Banco Inbursa that is due to expire in 2008.
Azteca (TVAZTCACPO.MX: Quote, Profile, Research)(TZA.N: Quote, Profile, Research), owned by media and retail magnate Ricardo Salinas, said it was funding the debt prepayment with the proceeds of a bond issue in Mexico. ($1 = 10.694 pesos)
More: today.reuters.com
Mexico's Fox to Propose Cutting Foreign Debt a 3rd Year in 2006
Mexico President Vicente Fox will ask Congress to reduce foreign debt for a third year in his 2006 budget proposal, said Alejandro Werner, chief economist for the Finance Ministry.
``This is a policy that has been successful and we will continue in this direction,'' Werner said at a Mexico City news conference.
The government cut foreign debt by $500 million both this year and in 2004. Fox last week said he will propose to Congress in September a balanced budget for the first time during his six- year
Mexico's Fox to Propose Cutting Foreign Debt a 3rd Year in 2006
Mexico President Vicente Fox will ask Congress to reduce foreign debt for a third year in his 2006 budget proposal, said Alejandro Werner, chief economist for the Finance Ministry.
``This is a policy that has been successful and we will continue in this direction,'' Werner said at a Mexico City news conference.
The government cut foreign debt by $500 million both this year and in 2004. Fox last week said he will propose to Congress in September a balanced budget for the first time during his six- year
Mexico to Swap Bonds Today to Lower Foreign Debt
Mexico will swap foreign-currency bonds for domestic securities today, the first part of a planned $3.3 billion exchange aimed at making the countrys finances less vulnerable to declines in the peso.
In todays transaction, investors can turn in as much as $500 million of dollar bonds in exchange for peso debt. Investors in November bought warrants from the government that gave them the option to turn in their dollar bonds for peso bonds. In March, the government sold similar warrants to holders of some bonds denominated in European currencies.
The swaps
Mexico`s Televisa is branching out
Mexico`s Televisa studio is branching out in 2006 with its first ever cartoon, it was reported Tuesday.
The network will roll out an animated version of its successful 1970s children`s comedy 'El Chavo del ocho' during the National Association of Television Program Executives meeting in Las Vegas later this month, Daily Variety reported Tuesday.
The Mexico cartoon studio, Anima, is creating 26 half-hour episodes with the first season expected to be ready by late 2006, Variety said.
The original 'Chavo' is in syndication in every Spanish speaking country in Latin America as well as Spain, Brazil and the United
Emerging debt-Prices rally on Treasuries; Mexico leads
Emerging market debt prices rallied on Friday, boosted by U.S. Treasuries and led by Mexico, where the government announced its second step this week to reduce its outstanding foreign debt.
Mexican external bonds, which usually move in relatively narrow ranges compared with other major EM credits, roared higher. The benchmark global bond due in 203, jumped 2.500 points to bid 124.50 and the global 2019 rose 4.250 to bid 123.750.
Analysts said the surge was driven by the view that debt will become more valuable as it dwindles in supply.
"It was a Mexico colored day," said
