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Univision Holders Approve Sale of Company

Sep 28, 2006  •  Post A Comment

Univision Communications shareholders on Wednesday approved the $13.7 billion acquisition of the biggest U.S. Spanish-language media company by a private group of investors that includes Saban Capital Group, Providence Equity Partners, Texas Pacific Group, Thomas H. Lee Partners and Madison Dearborn Partners.

The group paid $36.25 per share in cash and assumed $1.4 billion in debt. The merger agreement was approved by more than 80 percent of the shares that were voted at a special meeting Wednesday. The transaction is expected to be completed in spring 2007.

Univision’s holdings include the television broadcast network of the same name, which reaches 99 percent of U.S. Hispanic households; the general interest TeleFutura Network, launched in 2002; the Galavisión cable network; and Univisión Television Group, which owns and operates 62 television stations.

The company also holds Univisión Radio, which owns and/or operates 73 radio stations; Univisión Music Group; and Univisión Online. Other assets include a 50 percent interest in TuTv, a joint venture formed to broadcast Televisa’s pay television channels in the U.S., and a non-voting 14.9 percent interest in Entravision Communications Corp., a public Spanish-language media company.