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Univision: Univision Communications
built 633 days ago
After a tumultuous auction, Univision Communications, the nation’s largest Spanish-language broadcaster, said early Tuesday it had accepted an offer to be acquired by a private equity consortium for $36.25 per share in cash. The transaction is valued at about $13.7 billion, including the assumption of $1.4 billion in debt, Univision said.
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Univision Communications Inc., the leading Spanish-language media company in the U.S., will release its 2007 fourth quarter and full year financial results on Wednesday, March 5, 2008, after the close of the stock market. Management will conduct a conference call to discuss results on Thursday, March 6, 2008, at 12:00 p.m. ET/9:00 a.m. PT.
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Mr. Hinson served as Executive Vice President and Chief Financial Officer of Univision Communications from March 2004 to June 2005. He served as Senior Vice President and Chief Financial Officer of Univision Radio, the radio division of Univision Communications, from September 2003 to March 2004. From 1997 to 2003, Mr. Hinson served as Senior Vice President and Chief Financial Officer of Hispanic Broadcasting Corporation, which was acquired by Univision Communications in 2003 and became the radio division of Univision Communications.
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NEW YORK, March 30 /PRNewswire/ -- A group including Madison Dearborn Partners, Providence Equity Partners, Saban Capital Group, Texas Pacific Group and Thomas H. Lee Partners have acquired Univision Communications Inc. UVN, the leading Spanish-language media company in the US. The transaction is valued at approximately $13.7 billion, including the assumption of debt. Weil, Gotshal & Manges LLP acted as legal advisor to the sponsors, Covington & Burling was FCC Counsel and Bank of America, N.A., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and Wachovia Bank were financial advisors to the buying group in the transaction.
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Reference is made to the Agreement and Plan of Merger (the "Merger Agreement"), dated as of June 26, 2006, by and among Umbrella Holdings, LLC, Umbrella Acquisition, Inc. and Univision Communications Inc. ("Univision") and Section 3.8 thereof. Capitalized terms used and not defined herein have the meanings ascribed thereto in the Merger Agreement.
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Televisa, Venevision and Televisa director Carlos Slim Domit own a combined stake of 19.6% in Univision. If all related warrants were exercised, that stake would exceed the Federal Communications Commission’s 25% foreign ownership limit on the parent companies of licensed U.S. broadcasters.
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