Univision will sell for more than 12 billion

Tue27Jun2006

Univision will sell for more than 12 billion

For all those who still doubt whether the Latino market in the U.S. is lucrative, I point you to this piece of news. Univision, the leading Spanish language in the United States is preparing to be purchased by a group of investors at a whopping 12.3 billion dollars.

Univision Communications Inc.'s board has agreed to sell the nation's largest Spanish-language broadcaster for $12.3 billion in cash to a consortium of investors, the parties involved in the sale announced early Tuesday.

The figure agreed upon late Monday equals $36.25 a share, according to a news release on the sale. That's a 13 percent premium to Univision's closing stock price on Monday. The group of investors will also assume about $1.4 billion in debt.

The investors have won out after a struggle for the property with Mexico's TV giant Televisa.

The group said of the newly acquired media property:

"Univision is truly a one-of-a-kind property," the acquiring group said in a joint statement. "It is an outstanding media brand with exceptional positions in the fastest-growing markets in the country, world-class assets, strong management, popular programming and unmatched ratings."

Via / Yahoo! Entertainment

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Jennifer

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Feedback (3) » Share your opinion

1. ohman ~ Tuesday, Jun 27 2006 | 13:51H:

who gives a shit. lets see some stories about how america is waking up about 9/11, suspension of the constitution drills, etc and companies like this are going to go down if they don't start broadcasting the truth.

2. The Gossiper ~ Tuesday, Jun 27 2006 | 16:06H:

The price has gone up. It was originally to sell for 11 billion, even though overall ratings are supposedly dropping because of lack of interest due to retro shows and because of other quality sources for news and entertainment, such as VL.

3. Maegan la Mala ~ Wednesday, Jun 28 2006 | 08:53H:

Awwwww Gossiper - you made me cry. :). Now if only freaking univision and other networks felt the same and would hook us up with press credentials when asked.

VivirLatino