Expansion
In 1998, TV Azteca announced an investment of US$25 million in XHTVM-TV, which was owned by Javier Moreno Valle through concessionaire Televisora del Valle de México, S.A. de C.V. Under the deal, Azteca restructured TVM and took control of ad sales and most programming duties, while Moreno Valle's CNI news service retained some primetime space. However, in 2000, Moreno Valle broke the contract with Azteca, alleging Azteca of filling up time allotted to CNI and not fulfilling the obligations in the contract. In December 2002, Azteca used private security guards to retake control of the XHTVM facilities on Cerro del Chiquihuite in Mexico City. However, the Mexican government stepped into the dispute and forced Azteca to relinquish control of XHTVM. In 2005, an employee strike that crippled CNI, Moreno Valle's mounting legal troubles, and a deal with the 5% owner of the concessionaire allowed Azteca to buy the remainder of the station and retake control of XHTVM, under the name Proyecto 40, in 2006.
On March 7, 2011, TV Azteca changed its name to Azteca, reflecting its growth into a multimedia company.[6] However, in May 2016, the TV Azteca name was restored.
TV Azteca is the second largest mass media company in México after Televisa.[5] These two big organizations control the 97% of mass media in Mexico.[5] TV Azteca was funded in 1993 by Ricardo Salinas Pliego. TV Azteca has 31% of the 465 television concessions in México.[5] The auction of the state channels and the granting of further concessions to TV Azteca further strengthen their connection. It also owns Azteca banks, Azteca insurance, Iusacell, programing pay television, cinemas, live theater, news channels, newspapers, Azteca music, an acting school, Azteca consumer products, Azteca internet, Azteca series, Azteca sports, stadiums, etc. TV Azteca is another company which also serves the government however to a much lesser extent than Televisa.[7] TV Azteca also receives lucrative contracts from the Mexican government, and therefore the information that emits is also controlled by the actual government. The news that is normally emitted by TV Azteca is 25% news bulletins that come from advertising, and infotainment relying on celebrities and biased editorials.[5]
On March 21, 2023, creditors for the company pushed the company into an involuntary Chapter 11 bankruptcy petition in the U.S.[8] However, on April 26, TV Azteca asked the New York bankruptcy judge to dismiss its Chapter 11 case due to it being pointless to start reorganization proceedings for the company anywhere but Mexico.[9] On June 1, 2023, TV Azteca was suspended from the Mexico Stock Exchange.[10]
On February 26, 2026, TV Azteca applied for bankruptcy proceedings in Mexico in an effort to strengthen finances and liabilities. The company blamed several factors contributing to its decision, including a $2 billion payment in back taxes to Mexican authorities, license payment impacts and the overall impact the company faced as a result of the COVID-19 pandemic.[11]
