LOS ANGELES – Univision Communications Inc. (NYSE: UVN) yesterday said the Federal Communications Commission has approved its $12.3 billion acquisition by Broadcasting Media Partners Inc., an investor group that includes Providence Equity Partners Inc.
Besides Providence Equity, BMP’s members are Madison Dearborn Partners, TPG, Thomas H. Lee Partners and Saban Capital Group.
“This important step paves the way to close BMP’s acquisition of Univision,” said Joe Uva, who is to become Univision’s CEO after the deal closes, adding: “I am very excited to begin working … to build on the great success for which Univision is so well known.” The acquisition, at $36.25 cash per Univision share, is expected to close this month.
Univision Communications, the country’s leading Spanish-language media company, includes:
• The broadcast television’s Univision Network, reaching 99 percent of Hispanic households nationwide; and TeleFutura Network, reaching 87 percent.
• The cable TV network Galavisión.
• The Univision and TeleFutura Television Groups, which own and operate 63 stations in major U.S. markets.
• Univision Radio, with 69 radio stations in 21 U.S. markets.
• The Univision Music Group, which includes Univision Records, Fonovision Records, La Calle Records and Mexico-based Disa Records, plus the Fonomusic and America Musical Publishing companies.
• The Spanish-language Internet destination Univision Online (www.univision.com).
The company also has a 50-percent stake in TuTv, a joint venture formed to broadcast Telvisa pay-TV channels in the United States, and a 14.8-percent non-voting stake in Entravision Communications Corp.
Univision stock today rose 6 percent or 2 cents per share to $36.23 per share, as of 4:05 p.m., in New York Stock Exchange composite trading.