Opportunity Landing Time and Radio Signal Delay

I watched NASA TV last night for the Opportunity landing as the engineers were reporting hearing the various tones from the landing
craft at the preprogrammed events.
CNN says opportunity landed at 12:05. This is the time I saw the engineers announcing the tone. My understanding is that it take 40 minutes for a radio signal to get from Mars to Earth.
Doesn't this mean that Opportunity really landed at 11:20?
Thanks in advance.
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