:Grupo Salinas
{{more citations needed|date=February 2018}}
{{short description|Mexican corporate conglomerate}}
{{Infobox company
| name = Grupo Salinas
| logo = Logotipo de Grupo Salinas.svg
| type = Mexican conglomerate
| foundation =
| founder =
| location =
| locations =
| area_served = Mexico
| key_people =
| industry = Sports, automobiles, internet, media
| products =
| services =
| revenue =
| operating_income =
| net_income =
| assets =
| equity =
| num_employees = 110,000
| num_employees_year= 2020{{cite web|url=https://www.grupoelektra.com.mx/Documents/ES/Downloads/Grupo-Elektra-3Q20-Eng.pdf|title=Presentación powerpoint|language=en|date=2020|website=Grupo elektra}}
| parent =
| divisions =
| subsid =
| homepage = {{URL|https://www.gruposalinas.com/}}
| footnotes =
| intl =
}}
Grupo Salinas is a corporate conglomerate formed in 2001 by several Mexican companies.{{cite book |last1=Grosse |first1=Robert |last2=Mesquita |first2=Luiz F. |year=2007 |title=Can Latin American Firms Compete? |publisher=Oxford University Press |pages=388 ff. |isbn=9780191607943}}{{cite book |last1=Pitt |first1=Martyn R. |last2=Koufopoulos |first2=Dimitrios |year=2012 |title=Essentials of Strategic Management |publisher=SAGE |page=284 |isbn=9781446290774}} The group consists of TV Azteca, Grupo Elektra, Mazatlán F.C., Telecosmo, and Italika. 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.{{citation needed|date=February 2018}}
In 1950, Grupo Elektra 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, in 1993.{{cite web |url=https://www.grupoelektra.com.mx/Documents/EN/Downloads/Informe-Sustentabilidad-Grupo-Elektra-2017-EN.pdf|title=Sustainability information - Grupo Elektra}}
In 1993, Grupo Elektra bought the Imevisión government television network and renamed it as TV Azteca. The network went public with an initial public offering on the Mexican and New York stock exchanges in 1997.The New York Times, Offering Scheduled in Equity and Debt Offerings This Week, Monday, August 11, 1997
In 2012, Grupo Elektra acquired payday lender Advance America for an estimated $780 million USD.{{Cite web|url=https://www.prnewswire.com/news-releases/grupo-elektra-to-acquire-advance-america-for-1050-per-share-139407723.html|title=Grupo Elektra to Acquire Advance America for $10.50 Per Share|website=www.prnewswire.com}}
In 2003, Grupo Salinas purchased the telecommunications company Iusacell and the mobile phone company Unefón. Iusacell was sold to AT&T in 2014, and was later rebranded as AT&T Mexico.{{cite web |title=AT&T seals deal to acquire Iusacell from Grupo Salinas for USD2.5bn |url=https://www.commsupdate.com/articles/2014/11/10/att-seals-deal-to-acquire-iusacell-from-grupo-salinas-for-usd2-5bn/ |website=Commsupdate}} Unefón was also sold to AT&T Mexico.{{cite web |last1=Meyer |first1=Dan |title=AT&T Mexico rebranding efforts begin |url=https://www.rcrwireless.com/20150826/carriers/att-mexico-rebranding-efforts-begin-tag2 |website=RCR Wireless News |date=26 August 2015}}
In March 2019, Grupo Salinas made an investment of an undisclosed amount in OneWeb, a company developing and fielding a satellite internet constellation to deliver broadband internet services. The total raise was {{USD|1.25 billion}} to help build out the operational system following a successful first launch of technology that had been under development since 2015.{{cite news |url=https://www.bloomberg.com/news/articles/2019-03-18/oneweb-raises-fresh-1-25-billion-for-internet-system-from-space? |title=OneWeb Raises Fresh $1.25 Billion for Internet System From Space |work=Bloomberg News |date=18 March 2019 |access-date=21 March 2020 }}{{cite news|last1=Winkler|first1=Rolfe|title=Greg Wyler’s OneWeb Satellite-Internet Company Secures Funding|url=https://www.wsj.com/articles/greg-wylers-oneweb-satellite-internet-company-secures-funding-1421278832|access-date=2015-01-15|work=Wall Street Journal|date=2015-01-14|archive-url=https://web.archive.org/web/20150115122352/http://www.wsj.com/articles/greg-wylers-oneweb-satellite-internet-company-secures-funding-1421278832|archive-date=2015-01-15|url-status=live}}{{cite news |last1=de Selding |first1=Peter B. |title=Virgin, Qualcomm Invest in OneWeb Satellite Internet Venture |url=http://spacenews.com/virgin-qualcomm-invest-in-global-satellite-internet-plan/|access-date=16 January 2015|work=SpaceNews|date=15 January 2015}}
SEC charges against TV Azteca
{{main|TV Azteca#Disputes and controversies{{!}}Disputes and controversies of TV Azteca}}
See also
References
{{Portal|Mexico|Companies}}
{{reflist}}
{{Grupo Salinas}}
Category:Conglomerate companies of Mexico
Category:Companies based in Monterrey