Entravision set to buy Spanish-language station
Entravision Communications Corp., of Santa Monica, Calif., said that it will buy WUNI-TV, Channel 27, the Boston affiliate of Univision Network, from Jasas Corp. for $47.5 million to expand into New England and increase its share of the Hispanic market, according to a Bloomberg report. Univision Network is the most-watched Spanish-language network in the U.S. With its purchase of WUNI, the Spanish-language television and radio company owns and operates 18 Univision stations, or 23 percent of Univision’s television households. Entravision’s goal is to own Univision affiliates in Hispanic markets ranked two through 50.
Boston is the nation’s 23rd largest Hispanic television market, and is the sixth-largest broadcasting market in the U.S.
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Pending U.S. Federal Communication Commission approval, the company hopes to complete the transaction in the first quarter of 2001.
Citizens Bank leading small business lender in R.I.
Citizens Bank and the U.S. Small Business Administration report that the bank has been named the number one SBA lender in Rhode Island for the sixth year in a row.
Citizens Bank topped all Rhode Island SBA lenders in both number of loans and dollar amount with 254 loans totaling more than $25.8 million. In all, the Rhode Island SBA District Office had 751 loan approvals totaling nearly $97 million in fiscal year 2000.
”We’ve earned their number one designation by understanding issues small businesses face and responding quickly to meet their needs,” said Robert T. Gormley, president and chief executive officer of Citizens Bank of Rhode Island.
Mark S. Hayward, director of the SBA’s Rhode Island office, called Citizens “the most consistent SBA lender in Rhode Island.”
”To provide nearly $97 million in loans, $26 million attributable to Citizens alone, shows the value of SBA programs and the need for these programs in the community,” said Hayward.
