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 April, 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: April 20, 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 Centrro, 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 [SEAL]
Listed
NYSE
For Immediate Release
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Grupo Radio Centro REPORTS A LOSS FOR 2003
DUE TO AN EXTRAORDINARY LOSS FROM
INFORED ARBITRATION PROCEEDING
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Mexico City, April 20, 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 it has filed with the Mexican Banking
and Securities Commission (Comision Nacional Bancaria y de Valores) its 2003
audited financial statements, which report a net loss of Ps. 245.8 million. The
audited financial statements reflect an extraordinary loss under Mexican GAAP of
Ps. 340.7 million related to the March 1, 2004 award of damages by the
International Chamber of Commerce in the arbitration proceeding brought by
Infored, S.A. de C.V. and Mr. Jose Gutierrez Vivo. The Company was notified of
the arbitration decision after it reported its results for 2003. Because this
damage award is as an extraordinary item under Mexican GAAP, the Company's
operating income for 2003 Ps.157.9 million was not affected.
The Company plans to challenge the validity of the ICC arbitration decision in
the Mexican courts. Pending this challenge, the Company will seek a stay of the
enforcement of the damage award.
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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