Overview
- TV Azteca told a U.S. judge that one of the withdrawn Mexican cases from the Ninth Civil Court was unrelated to U.S. bondholders and stemmed from a 2023 measure on financial reporting to the CNBV.
- Mexico City’s court revoked that reporting exemption on October 30 and the company appealed on November 12 before abandoning the case on November 19.
- Creditors suing over unpaid 2017 bonds in the Southern District of New York had been preparing a possible contempt motion, a stance that could shift after the withdrawals.
- President Claudia Sheinbaum said market forces could drive advertisers away from the broadcaster, while stressing her government would not respond with censorship or provocations.
- Grupo Salinas faces sustained legal pressure in Mexico, including Supreme Court rulings to cover significant tax liabilities and BMV demands for overdue financial information, with no mass advertiser exits reported.