Claiming difficulty in dealing with expenses connected to adhering with Sarbanes-Oxley legislation, TV Azteca has announced that it will delist from the New York Stock Exchange.

The announcement Tuesday caused the value of its shares to fall 7 percent in early trading on Tuesday.

The company said that it cost too much to comply with Sarbanes-Oxley, which requires all companies listed on U.S. stock exchanges, foreign and domestic, to provide proof that they have in place internal controls to prevent accounting fraud.

TV Azteca called the legislation “excessive regulation” that was spurred by recent scandals such as those that hit Enron and Adelphia in recent years.

Two other companies controlled by Ricardo Salinas Pliego, the chairman of TV Azteca, will soon hold shareholders’ meetings to decide on delisting those companies as well. One of those companies is the largest electronics retailer in Mexico.

Some analysts believe that Sarbanes-Oxley is not the real issue for TV Azteca and other companies that have delisted from the NYSE in light of the fact that disclosure provisions in Mexican securities laws are moving in the same direction as U.S. law.

The move by Salinas Pliego’s companies come as Salinas Pliego and TV Azteca stand accused of securities fraud in both the United States and Mexico.