UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER PURSUANT TO RULES 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of January, 2005
Commission File Number: 333-7484
INNOVA, S. de R.L. de C.V.
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(Translation of registrant's name into English)
Insurgentes Sur 694 Piso 8, Col. Del Valle 03100 Mexico, D.F. Mexico
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(Address of principal executive offices)
(Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F.)
Form 20-F X Form 40-F
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(Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act
of 1934.)
Yes No X
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(If "Yes" is marked indicate below the file number assigned to the
registrant in connection with Rule 12g-3-2(b): 82 .) --------
SIGNATURE
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.
INNOVA, S. de R.L. de C.V.
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(Registrant)
Dated: January 11, 2005 By /s/ Carlos Ferreiro Rivas
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Name: Carlos Ferreiro Rivas
Title: Chief Financial Officer
[GRAPHIC OMITTED - SKY LOGO]
FOR IMMEDIATE RELEASE
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INNOVA SUCCESFULLY COMPLETES REFINANCING
OF US$88 MILLION SENIOR NOTES DUE 2007
WITH A PESO DENOMINATED BANK LOAN
Mexico City, January 7, 2005 - Innova, S. de R.L. de C.V. today announced
that on December 10th, 2004 it entered into a Ps. 1,012 million, 7-year
bank loan with a fixed interest rate of 10.55% per annum with a Mexican
financial institution. The net proceeds from the loan are being used today
to pay the remaining US$88 million of Innova's 12 7/8% bond that matures in
2007. Grupo Televisa, S.A. and News Corporation are guaranteeing this loan
51% - 49% respectively.
With today's payment, Innova has redeemed all of the outstanding 2007
Senior Notes. Redemption price for the remaining US$88 million of Innova's
12 7/8% bond was 100.00% of the principal amount of such securities, plus
accrued and unpaid interest to the date of redemption.
With this refinancing Innova strengthens its financial profile through a
reduction of annual interest expense and exposure to foreign exchange
fluctuations.
INNOVA, S. DE R.L. DE C.V., is a joint venture indirectly owned by Grupo
Televisa, S.A., a Mexican corporation ("Televisa"), The News Corporation
Limited, an US/Delaware corporation ("News Corporation"), and Liberty Media
International Inc., a Delaware corporation. For more information, please
visit www.sky.com.mx.
GRUPO TELEVISA S.A., is the largest media company in the Spanish-speaking
world, and a major player in the international entertainment business. It
has interests in television production and broadcasting, programming for
pay television, international distribution of television programming,
direct-to-home satellite services, publishing and publishing distribution,
cable television, radio production and broadcasting, professional sports
and show business promotions, feature film production and distribution, and
the operation of a horizontal Internet portal. Grupo Televisa also has an
unconsolidated equity stake in Univision, the leading Spanish-language
television company in the United States. For more information, please visit
www.televisa.com.
NEWS CORPORATION, is a diversified international media and entertainment
company with operations in seven industry segments: filmed entertainment;
television; cable network programming; direct broadcast satellite
television; magazines and inserts; newspapers; book publishing; and other.
The activities of News Corporation are conducted principally in the United
States, the United Kingdom, Australia, Asia and the Pacific Basin. For more
information, please visit www.newscorp.com.
LIBERTY MEDIA INTERNATIONAL, INC. owns interests in broadband distribution
and content companies operating outside the U.S., principally in Europe,
Asia and Latin America. For more information, please visit
www.libertymediainternational.com.
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This press release contains forward-looking statements regarding Innova's
results and prospects. Actual results could differ materially from these
statements. The forward-looking statements in this press release,
including, but not limited to, statements regarding Innova's financial
profile and the impact of the transaction on Innova's interest expenses and
foreign exchange exposure should be read in conjunction with the factors
described in "Item 3. Risk Factors" in the Company's Annual Report on Form
20-F, which among others, could cause actual results to differ materially
from those contained in any oral statements made by authorized officers of
the Company. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of their dates. The Company
undertakes no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise.
Contacts:
CARLOS FERREIRO
Chief Financial Officer
Innova, S. de R.L. de C.V.
Insurgentes Sur No.694
Col. del Valle
Mexico City, 03100
(5255) 5448-4131
cferreiro@sky.com.mx
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JUAN CARLOS MUNOZ
Investor Relations
Innova, S. de R.L. de C.V.
(5255) 5448-4000 ext.6658
jmunoz@sky.com.mx
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