TV Azteca given six‑month deadline to settle debts and avoid bankruptcy

A Mexican federal judge has ordered TV Azteca to reach a settlement with its creditors within 185 days or face a declaration of bankruptcy. The court appointed an intermediary to facilitate negotiations after the media group, owned by Ricardo Salinas Pliego, failed to meet payment obligations, including a claim of about $580 million from U.S. creditors.

TV Azteca faces roughly 600 creditors, of whom 48 % have not received payments for over a month. The judge’s ruling notes that 64.73 % of the company’s liabilities are overdue while available assets cover only 7.07 % of those obligations. During the conciliation period the company must maintain payroll, tax, and social‑security payments, while working toward a restructuring agreement to avert liquidation.

If no agreement is reached, the court will proceed with the bankruptcy and liquidation of TV Azteca’s assets. The process is part of a broader strategy to reorganize the broadcaster’s finances and secure its long‑term financial health.