TV Azteca declared in concurso mercantil to restructure debt

Mexico’s TV Azteca, the second‑largest broadcast network owned by entrepreneur Ricardo Salinas Pliego, was formally placed in concurso mercantil by a federal judge on 6 July. The court‑supervised insolvency proceeding gives the company up to a year to negotiate with its creditors and avoid bankruptcy.

The broadcaster reports a debt package of roughly 23.3 billion pesos (about US$1.1 billion), including a $400 million bond issued in the United States in 2017 that has been in default since 2020. Around 600 creditors are listed, many of whom have claims older than 30 days; the company’s liquid assets cover only about 7 % of its obligations. The judge ordered a suspension of payments on pre‑petition debts, except for essential expenses such as salaries and taxes, and halted any seizure of assets during the conciliation phase.

TV Azteca says the process is part of a broader corporate, operational and financial reorganisation announced in February, aimed at preserving its operations, audience and employment while dealing with other legal disputes, including lawsuits from US bondholders and tax issues with Mexico’s SAT. Shares remain suspended on the Mexican Stock Exchange.