This articleneeds additional citations forverification.(February 2018) |
Grupo Salinasis a corporate conglomerate formed in 2001 by several Mexican companies.[1][2]The group consists ofTV Azteca,Grupo Elektra,Mazatlán F.C.,Telecosmo,andItalika.Each of these companies operates independently with its own management and board of directors.
 | |
| Company type | Mexican conglomerate |
|---|---|
| Industry | Sports,automobiles,internet |
Area served | Mexico |
| Website | www |
History
editThe origin of Grupo Salinas begins with a store called "Salinas y Rocha" founded in 1906 inMonterrey.[citation needed]
In 1950,Grupo Elektrabegan as a radio factory. Two years later, the company began manufacturing television sets and increased its workforce to 70 employees. Elektra began selling products directly to consumers in 1954. In 1957, Elektra retail stores incorporated credit programs. By 1968, Elektra had 12 stores in the region and by 1987, 59 stores. Elektra Group was listed on theBolsa Mexicana de Valores,the Mexican Stock Exchange, in 1993.[3]
In 1993, Grupo Elektra bought theImevisióngovernment television network and renamed it asTV Azteca.The network went public with aninitial public offeringon the Mexican and New York stock exchanges in 1997.[4]
In 2012, Grupo Elektra acquiredpayday lenderAdvance America for an estimated $780 million USD.[5]
In 2003, Grupo Salinas purchased the telecommunications company Iusacell and the mobile phone companyUnefón.Iusacell was sold toAT&Tin 2014, and was later rebranded asAT&T Mexico.[6]Unefón was also sold to AT&T Mexico.[7]
In March 2019, Grupo Salinas made an investment of an undisclosed amount inOneWeb,a company developing and fielding asatellite internet constellationto deliver broadband internet services. The total raise wasUS$1.25 billionto help build out the operational system following a successful first launch of technology that had been underdevelopmentsince 2015.[8][9][10]
SEC charges against TV Azteca
editSee also
editReferences
edit
- ^Grosse, Robert; Mesquita, Luiz F. (2007).Can Latin American Firms Compete?.Oxford University Press. pp. 388ff.ISBN9780191607943.
- ^Pitt, Martyn R.; Koufopoulos, Dimitrios (2012).Essentials of Strategic Management.SAGE. p. 284.ISBN9781446290774.
- ^"Sustainability information - Grupo Elektra"(PDF).
- ^The New York Times, Offering Scheduled in Equity and Debt Offerings This Week, Monday, August 11, 1997
- ^"Grupo Elektra to Acquire Advance America for $10.50 Per Share".prnewswire.
- ^"AT&T seals deal to acquire Iusacell from Grupo Salinas for USD2.5bn".Commsupdate.
- ^Meyer, Dan (26 August 2015)."AT&T Mexico rebranding efforts begin".RCR Wireless News.
- ^"OneWeb Raises Fresh $1.25 Billion for Internet System From Space".Bloomberg News.18 March 2019.Retrieved21 March2020.
- ^Winkler, Rolfe (2015-01-14)."Greg Wyler's OneWeb Satellite-Internet Company Secures Funding".Wall Street Journal.Archivedfrom the original on 2015-01-15.Retrieved2015-01-15.
- ^de Selding, Peter B. (15 January 2015)."Virgin, Qualcomm Invest in OneWeb Satellite Internet Venture".SpaceNews.Retrieved16 January2015.