Grupo Salinas is a corporate conglomerate formed in 2001 by several Mexican companies. The group consists of

TV Azteca Televisión Azteca, S.A.B. de C.V., commonly known as TV Azteca, is a Mexican multimedia conglomerate owned by Grupo Salinas. It is the second-largest mass media company in Mexico after Televisa. It primarily competes with Televisa as well as so ...

Grupo Elektra Grupo Elektra is a Mexican financial and retail corporation founded in 1950 by Hugo Salinas Price. The company currently operates over seven thousand points of contact across Mexico, United States, and Central America, through two business divi ...

Mazatlán F.C. Mazatlán Futbol Club is a Mexican professional Association football, football club based in Mazatlán, Sinaloa, that competes in Liga MX, the top division of Mexican football league system, Mexican football. The club was established in June 2020 ...

, Telecosmo, and

Italika ''Comercializadora de Motocicletas de Calidad, S.A. de C.V''., commonly known as ''Italika'', is a Mexican motorcycle brand established on November 1, 2004, by Ricardo Salinas Pliego. ''Italika'' operates two assembly plants —one in Tlalpan, Mex ...

. Each of these companies operates independently with its own management and board of directors.

History

The origin of Grupo Salinas begins with a store called "Salinas y Rocha" founded in 1906 in

Monterrey Monterrey (, , abbreviated as MtY) is the capital and largest city of the northeastern Mexican state of Nuevo León. It is the ninth-largest city and the second largest metropolitan area, after Greater Mexico City. Located at the foothills of th ...

. In 1950,

began 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 the

Bolsa Mexicana de Valores The Mexican Stock Exchange (), commonly known as Mexican Bolsa, Mexbol, or BMV, is one of two stock exchanges in Mexico, the other being BIVA - Bolsa Institucional de Valores. It is the second largest stock exchange in Latin America, only after ...

, the Mexican Stock Exchange, in 1993. In 1993, Grupo Elektra bought the

Imevisión The Instituto Mexicano de la Televisión (''Mexican Television Institute''), known commercially as Imevisión after 1985, was a state broadcaster and federal government agency of Mexico. At its height, Imevisión programmed two national networks ...

government television network and renamed it as

. The network went public with an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...

on the Mexican and New York stock exchanges in 1997. In 2012, Grupo Elektra acquired

payday lender A payday loan (also called a payday advance, salary loan, payroll loan, small dollar loan, short term, or cash advance loan) is a short-term unsecured loan, often characterized by high interest rates. These loans are typically designed to cover ...

Advance America for an estimated $780 million USD. In 2003, Grupo Salinas purchased the telecommunications company Iusacell and the mobile phone company

Unefón Unefon is a Mexican mobile telecommunications brand used by AT&T Mexico, a subsidiary of AT&T Inc., used for prepaid products. The company was partially owned by Grupo Salinas and Mexican media group Televisa, and its network was CDMA only, ...

. Iusacell was sold to

AT&T AT&T Inc., an abbreviation for its predecessor's former name, the American Telephone and Telegraph Company, is an American multinational telecommunications holding company headquartered at Whitacre Tower in Downtown Dallas, Texas. It is the w ...

in 2014, and was later rebranded as

AT&T Mexico AT&T Mexico, S.A.U. (formerly known as Iusacell and Nextel Mexico), also known as AT&T Mexico Wireless and AT&T Mexico Mobility, is a Mexican mobile telephone operator and subsidiary of AT&T. AT&T Mexico is headquartered in Mexico City. Its mobil ...

. Unefón was also sold to AT&T Mexico. In March 2019, Grupo Salinas made an investment of an undisclosed amount in

OneWeb OneWeb Communications Ltd., doing business as Eutelsat OneWeb, is a subsidiary of the French group Eutelsat providing broadband satellite Internet services in low Earth orbit (LEO). The company is headquartered in London, and has offices in P ...

, a company developing and fielding a

satellite internet constellation A satellite internet constellation is a constellation of artificial satellites providing satellite internet service. In particular, the term has come to refer to a new generation of very large constellations (sometimes referred to as megacon ...

to deliver broadband internet services. The total raise was to help build out the operational system following a successful first launch of technology that had been under

development Development or developing may refer to: Arts *Development (music), the process by which thematic material is reshaped * Photographic development *Filmmaking, development phase, including finance and budgeting * Development hell, when a proje ...

since 2015.

SEC charges against TV Azteca

References

{{Grupo Salinas Conglomerate companies of Mexico Companies based in Monterrey Companies based in Nuevo León Family-owned companies of Mexico

History

SEC charges against TV Azteca

See also

References