Univision Responds to Televisa Comments

Jul 7, 2006  •  Post A Comment

Spanish-language broadcaster Univision responded Thursday to rumblings from one of its stakeholders, Mexican production company Televisa, after Televisa indicated it might sell its 11.4 percent stake in Univision. Televisa had let it be known earlier last week that it is considering the development of its own U.S.-based media company that could rival Univision. Univision released a statement informing investors that Televisa’s announcement “has no bearing” on the production company’s deal with Univision to supply programming through 2017, so that even if Televisa launched a rival service, its programming would continue to air on Univision in the U.S. Televisa was partnered with a group of investors who failed to purchase Univision in June after the company went on the sales block. Instead, the deal went to a rival group fronted by media mogul Haim Saban. Univision’s statement also noted that if Televisa does go forward with selling its shares, it would “have no impact on Univision’s business or on the pending merger agreement” with Mr. Saban’s investment group.