NBC Completes TV Azteca Investment

NBC has completed purchase of two million shares of Mexico's TV Azteca, in an investment worth $26.1 million ($13.085 per share).

The transaction was originally announced a month ago, and was the result of a legal dispute involving the exchange of programming between NBC and TV Azteca. In that settlement, TV Azteca agreed to pay NBC $46.1 million in cash.

The two million shares issued to NBC represent an increase of 1.08% in total outstanding shares of Azteca. The two companies have an additional agreement for NBC to make a small investment in Todito.com, an e-commerce portal 50% owned by TV Azteca.

TV Azteca is one of two broadcast television companies in Mexico and the second largest producer of Spanish language programming in the world.

Edited by Tom Butts