Grupo Salinas
From Wikipedia, the free encyclopedia
Grupo Salinas is a Mexican corporation which owns the second-largest television network in the country, TV Azteca as well as one of the largest retail stores Elektra, as well as financial, telecommunication and Internet companies. Its annual revenues are $3.7 billion and the company employs 34,000 people. It is currently present in the United States, Guatemala, El Salvador, Honduras and Peru.
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[edit] History
It started with the store Salinas y Rocha founded by Benjamín Salinas Westrup in 1906 in Monterrey.
[edit] Elektra
A second company founded by Salinas was Elektra, a radio factory founded in the 1950. In 1952, under the leadership of Hugo Salinas Price, its CEO, Elektra began manufacturing television sets and increased its work force to 70 employees. Two years later, with the help of door-to-door salespeople, Elektra entered the direct-to-consumer market and began offering credit. In 1957, Elektra retail stores incorporated credit programs. By 1968, Elektra had 12 stores in the region and by 1987, 59 stores. Ricardo Salinas Pliego then became the CEO of Elektra. Under the management of its new CEO, Elektra partnered with Western Union to offer money transfer services from the United States to Mexico in 1993 and becomes a publicly traded company listed on the Bolsa Mexicana de Valores (BMV, the Mexican Stock Exchange).
[edit] TV Azteca
The same year, Grupo Elektra bought Imevisión (the government television network) and renamed it TV Azteca with 18 advertisers. By next year, the number of advertisers increased to 29 nationwide as the network debuted its news show Hechos and was listed in the New York Stock Exchange (NYSE). In 1995, the number of advertisers reached 180 and Grupo Elektra acquired Hecali, a clothing retailer.
In 1996, TV Azteca launched Azteca Digital, the first digital media production center in Mexico and Azteca Music a record company. The station first telenovela (Nada personal enjoyed strong ratings.
TV Azteca launched its own initial public offering in 1997 in the BMV and the NYSE. The telenovela production increased to 4 titles, one of which reaches historic rating levels (Mirada de mujer).
During the 1998 World Cup, TV Azteca surpassed the level ratings of Televisa, the number one producer of Spanish-content in the world.
[edit] Unefón
The same year, Grupo Elektra, invests in Unefón as it acquires wireless licence. Unefón and Elektra then form a strategic alliance to sell wirless telephone services in Elektra stores.
[edit] Grupo Salinas
In 2001, Grupo Salinas is created as Unefon becomes profitable. Two years later Grupo Salinas enters the financial services industry, offering Afores (retirement account programs) and insurance through Seguros Azteca. By the end of the year Azteca América reaches 69% of the Hispanic audience of the United States.
By 2004, TV Azteca and Elektra are traded on LATIBEX, the Spanish stock market.
[edit] Companies
- TV Azteca
- Azteca America
- Grupo Elektra
- Banco Azteca
- Afore Azteca
- Seguros Azteca
- Unefon
- Iusacell
- Movil@ccess
- Todito.com
- Telecosmo
- Nivada
| Grupo Salinas |
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Corporate Directors: Joaquín Arrangoiz | Francisco Borrego | Tristán Canales | Luis J. Echarte | Diego Foyo | Gustavo Guzmán | Alfredo Honsberg | Gustavo Lacroix | Martín Luna | Armando Melgar | Jorge Mendoza | Esteban Moctezuma | Ernesto Nava | Luis Niño de Rivera | Pedro Padilla | Tim Parsa | Ricardo Salinas Pliego | Carlos Septién | Mario San Román | Javier Sarro | Adrian Steckel | José Ignacio Suárez | Gustavo Vega |
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Assets: Afore Azteca | Azteca América | Banco Azteca | Grupo Elektra | Iusacell | Movil@ccess | Seguros Azteca | todito.com | Telecosmo | TV Azteca | Unefon | Fundación Azteca | |
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Annual Revenue: 3.7 billion USD FY 2005) | Employees: 34,000 | Website: www.gruposalinas.com |
