Azteca Mobile calls it quits

Thu. March 05, 2009; Posted: 12:43 PM

Mar 05, 2009 (The Kansas City Star - McClatchy-Tribune Information Services via COMTEX) -- S | Quote | Chart | News | PowerRating -- Azteca Mobile, an Overland Park-based wireless company that used the Sprint Nextel network, is out of business.

The wireless company formed by a Mexico City-based Spanish-language TV network filed for Chapter 7 bankruptcy in U.S. Bankruptcy Court in Kansas City, Kan., owing Sprint about $600,000.

Azteca was a mobile virtual network operator offering pre-paid phone service, with a focus on service between the U.S. and Mexico.

The company described itself as "the only MVNO with prepaid roaming into Mexico and Push to Talk functionality between the United States and Mexico."

Azteca Mobile, formed about four years ago, said in court documents that it had assets of $1.9 million and liabilities of $22.3 million.

The company said it had income of $1 million in 2007, about $1.6 million in 2008 and $247,000 so far this year.

Azteca said it sold its 4,500 remaining customers to Cozac Wireless, a subsidiary of APC Wireless. Cozac last year also purchased the assets of Movida Communications, another bankrupt Kansas City area wireless company that focused on the Hispanic community.

Most of Azteca's debt -- more than $17 million -- was owed to Azteca Movil, a Mexico City company owned by Hispanic television network TV Azteca.

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For full details on Sprint Nextel Corp (S) click here. Sprint Nextel Corp (S) has Short Term PowerRatings of 5. Details on Sprint Nextel Corp (S) Short Term PowerRatings is available at This Link.

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