CONFORMED
Securities and Exchange Commission
Washington, D.C. 20549
FORM 6-K
Report of Foreign Issuer
Pursuant To Rule 13a-16 or 15d-16
of The Securities Exchange Act of 1934
For the month of March, 2004 Commission File Number 1-12090
GRUPO RADIO CENTRO, S.A. de C.V.
(Translation of Registrant's name into English)
Constituyentes 1154, Piso 7
Col. Lomas Altas, Mexico D.F. 11954
(Address of principal office)
(Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.)
(Check One) Form 20-F [X] Form 40-F [ ]
(Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)
(Check One) Yes [ ] No [X]
(If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b). 82- .)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Grupo Radio Centro, S.A. de C.V.
(Registrant)
Date: March 3, 2004 By: /s/ Pedro Beltran Nasr
------------------------------
Name: Pedro Beltran Nasr
Title: Chief Financial Officer
{LOGO] GRUPO RADIO CENTRO
Press Release
IR Contacts:
In Mexico:
Pedro Beltran / Alfredo Azpeitia.
Grupo Radio Centro, S.A. de C.V.
Tel: 5255-57-28-48 81 or
5255-57 28-49-11
In New York
Maria Barona
Melanie Carpenter
i-advize Corporate
Communications, Inc.
Tel: (212) 406-3690
Email: grc@i-advize.com
[LOGO] RC Listed NYSE [SEAL] BOLSA MEXICANA DEVAL ORES
For Immediate Release
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Grupo Radio Centro Announces Ruling in the case of Infored, S.A. de C.V.
and Jose Gutierrez Vivo Versus Grupo Radio Centro
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Mexico City, March 3, 2004 - Grupo Radio Centro, S.A. de C.V. (BMV: RCENTRO-A,
NYSE: RC) ("Grupo Radio Centro" or "the Company"), Mexico's leading radio
broadcasting company, announced today that the International Chamber of Commerce
notified the Company on March 1 that a final decision had been reached in the
arbitration proceeding brought by Infored, S.A. de C.V. ("Infored") and Mr. Jose
Gutierrez Vivo against Grupo Radio Centro in 2002. By majority vote of two of
the three arbitrators, the ICC panel held that the Company is in breach of its
contract with Infored and Mr. Gutierrez Vivo. As a result, the contract is
rescinded and Infored and Mr. Gutierrez Vivo together have been awarded a total
of U.S.$21 million in damages.
The Company plans to challenge the validity of this decision in the Mexican
courts. Pending this challenge, the Company will seek a stay of the enforcement
of the damage award.
The Company is evaluating its alternatives with respect to the production of the
Monitor news program, which currently is produced by Infored.
Company Description:
Grupo Radio Centro owns and/or operates 14 radio stations, 11 of which are
located in Mexico City. The Company's principal activities are the production
and broadcasting of musical and entertainment programs, talk shows, news and
special events programs. Revenue is primarily derived from the sale of
commercial airtime. The Company also operates a radio network, Organizacion
Impulsora de Radio, which acts as the national sales representative for, and
provides programming to, Grupo Radio Centro-affiliated radio stations.
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Note on Forward Looking Statements:
This release may contain projections or other forward-looking statements related
to Grupo Radio Centro that involve risks and uncertainties. Readers are
cautioned that these statements are only predictions and may differ materially
from actual future results or events. Readers are referred to the documents
filed by Grupo Radio Centro with the United States Securities and Exchange
Commission, specifically the most recent filing on Form 20-F which identifies
important risk factors that could cause actual results to differ from those
contained in the forward-looking statements. All forward-looking statements are
based on information available to Grupo Radio Centro on the date hereof, and
Grupo Radio Centro assumes no obligation to update such statements.
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