Univision Communications Inc. (NYSE: UVN), the leading
Spanish-language media company in the U.S., today announced the
completion of its acquisition by Broadcasting Media Partners Inc.
(�BMP�), an investor group including Madison Dearborn Partners,
Providence Equity Partners, TPG, Thomas H. Lee Partners, and Saban
Capital Group, for $36.25 per share in cash. The transaction was
originally announced on June 27, 2006. Univision Communications
Inc. common stock will cease trading on the New York Stock Exchange
before the opening of the market tomorrow and will no longer be
listed. A. Jerrold Perenchio, Univision�s Chairman and Chief
Executive Officer, commented, �I would like to express my deep
gratitude to all of Univision�s employees for their many
contributions to the Company�s success and for their devotion to
its mission of providing quality news, information, and
entertainment to Hispanic audiences throughout the U.S. I am
enormously proud of all that Univision has accomplished since 1992
and look forward to following the next phase of its growth, which
will undoubtedly be characterized by continued success under the
leadership of its new owners.� BMP commented, �We are extremely
pleased to have achieved a successful and timely closing of our
acquisition of Univision, a terrific company with a unique position
in the U.S. media landscape. We look forward to working with the
Company�s newly appointed CEO, Joe Uva, and Univision�s talented
management team and employees to take full advantage of the
enormous opportunities the Company will have in the years ahead. We
share Joe�s commitment to maintaining Univision�s unique connection
with and commitment to serving the needs of the burgeoning U.S.
Hispanic community.� �Univision has a rich and impressive history,
and I am very excited to join the Company in partnership with its
new owners, who have a proven track record of growing successful
media companies,� said Uva. �Jerry Perenchio and his management
team have done an exceptional job of building Univision into the
premier Spanish-language media company and the fifth largest
network overall. Univision�s programming quality and audience
loyalty are second to none, creating unmatched opportunities for
advertisers to successfully reach the U.S. Hispanic community. I
look forward to working with Univision�s senior management team,
employees, Televisa and other programming and industry partners, as
well as the entire BMP team to build on the Company�s leadership
position while continuing to be Hispanic America�s first choice for
information and entertainment.� Credit Suisse Securities (USA) LLC
and Deutsche Bank, as well as Bank of America, Lehman Brothers, and
Wachovia, acted as financial advisors to BMP in connection with
this acquisition. Weil, Gotshal & Manges LLP and Covington
& Burling LLP served as its legal advisors. UBS Investment Bank
acted as financial advisor to Univision and Skadden, Arps, Slate,
Meagher & Flom LLP and O�Melveny & Myers LLP served as its
legal advisors. Univision Communications Inc. Univision
Communications Inc. is the premier Spanish-language media company
in the United States. Its operations include Univision Network, the
most-watched Spanish-language broadcast television network in the
U.S. reaching 99% of U.S. Hispanic Households; TeleFutura Network,
a general-interest Spanish-language broadcast television network,
which was launched in 2002 and now reaches 87% of U.S. Hispanic
Households; Galavisi�n, the country�s leading Spanish-language
cable network; Univision Television Group, which owns and operates
62 television stations in major U.S. Hispanic markets and Puerto
Rico; Univision Radio, the leading Spanish-language radio group
which owns and/or operates 69 radio stations in 16 of the top 25
U.S. Hispanic markets and 4 stations in Puerto Rico; Univision
Music Group, which includes Univision Records, Fonovisa Records,�La
Calle Records and Mexico-based Disa Records as well as Fonomusic
and America Musical Publishing companies; and Univision Online, the
premier Spanish-language Internet destination in the U.S. located
at www.univision.com. Univision Communications also has a 50%
interest in TuTv, a joint venture formed to broadcast Televisa�s
pay television channels in the U.S., and a non-voting 14.9%
interest in Entravision Communications Corporation, a public
Spanish-language media company. Univision Communications is
headquartered in Los Angeles with television network operations in
Miami and television and radio stations and sales offices in major
cities throughout the United States. This document contains
forward-looking statements that involve risks and uncertainties,
including those relating to expected effects, timing and completion
of the merger transaction, the Company�s future success and growth.
Factors that could cause actual results to differ materially from
those expressed or implied by the forward-looking statements
include; cancellation or reductions in advertising; failure of our
new or existing businesses to produce projected revenues or cash
flow; failure to obtain the benefits expected from cross-promotion
of media; regional downturns in economic conditions in those areas
where our stations are located; changes in the rules and
regulations of the Federal Communications Commission; a decrease in
the supply or quality of programming; an increase in the cost of
programming; an increase in the preference among Hispanics for
English-language programming; the need for any unanticipated
expenses; competitive pressures from other broadcasters and other
entertainment and news media; Internet piracy, home copying and
Internet downloading; further recorded music industry declines;
potential impact of new technologies; unanticipated interruption in
our broadcasting for any reason, including acts of terrorism; write
downs of the carrying value of assets due to impairment; failure to
obtain expected savings from our vendor efficiency review,
organization changes and the merger and related transactions; and a
failure to achieve profitability, growth or anticipated cash flows
from acquisitions. Factors that could cause actual results to
differ materially from those expressed or implied by the
forward-looking statements include, but are not limited to, those
described in �Risk Factors� contained in our Annual Report on Form
10-K for the year ended December 31, 2006. The Company assumes no
obligation to update forward-looking information contained in this
press release. Broadcasting Media Partners Inc. Broadcasting Media
Partners Inc. (�BMP�) is an investor group consisting of Madison
Dearborn Partners, Providence Equity Partners, TPG, Thomas H. Lee
Partners, and Saban Capital Group. Madison Dearborn Partners, LLC
Madison Dearborn Partners, based in Chicago, is one of the most
experienced and successful private equity investment firms in the
United States. MDP has more than $14 billion of equity capital
under management and makes new investments through its most recent
fund, Madison Dearborn Capital Partners V, a $6.5 billion
investment fund raised in 2006. MDP focuses on management buyout
transactions and other private equity investments across a broad
spectrum of industries, including basic industries, communications,
consumer, financial services, and health care. Over the last
decade, MDP has been an active investor in the communications
sector, with investments in such companies as Clearnet
Communications, Intelsat, Ltd., MetroPCS, Nextel Partners,
Omnipoint Corporations, Telemundo Communications Group and XM
Satellite Radio. For more information, please visit the MDP website
at www.mdcp.com. Providence Equity Partners Inc. Providence Equity
Partners Inc. is a global private investment firm specializing in
equity investments in media, entertainment, communications and
information companies around the world. The principals of
Providence Equity manage funds with approximately $21 billion in
equity commitments and have invested in more than 100 companies
operating in over 20 countries since the firm's inception in 1990.
Significant investments include Bresnan Broadband Holdings, Casema,
Com Hem, Digiturk, Education Management Corporation, eircom,
Freedom Communications, Idea Cellular, Kabel Deutschland,
Metro-Goldwyn-Mayer, Ono, PanAmSat, ProSiebenSat.1, Recoletos, TDC,
VoiceStream Wireless, Warner Music Group, Western Wireless and
Yankees Entertainment Sports Network. Providence Equity is
headquartered in Providence, RI, and has offices in New York and
London. The firm is in the process of opening offices in Hong Kong
and New Delhi. TPG TPG is a private investment partnership that was
founded in 1992 and currently has more than $30 billion of assets
under management. Headquartered in Fort Worth, with offices in San
Francisco, London, Hong Kong, New York, Minneapolis, Melbourne,
Menlo Park, Mumbai, Shanghai, Singapore and Tokyo, TPG has
extensive experience with global public and private investments
executed through leveraged buyouts, recapitalizations, spinouts,
joint ventures and restructurings. TPG seeks to invest in
world-class franchises across a range of industries. Prior
investments in media and communications include Findexa, Hotwire,
Metro-Goldwyn-Mayer and TIM Hellas. Other significant investments
include Aleris, Burger King, Continental Airlines, Debenhams,
Ducati, MEMC, J. Crew, Neiman Marcus, Petco, Seagate and Texas
Genco. Visit www.tpg.com. Thomas H. Lee Partners, L.P. Thomas H.
Lee Partners, L.P. is one of the largest and oldest private equity
investment firms in the United States and has raised and managed
almost $20 billion of capital, making investments in over 100
businesses since its founding in 1974. Today, by remaining focused
on growth oriented companies with strong fundamentals and investing
in large buyouts primarily in North America, THL Partners continues
to build on a strong track record of creating lasting value and
delivering exceptional returns to its investors. Notable
transactions sponsored by the firm include Dunkin� Brands, Simmons,
The Nielsen Company (formerly VNU), Warner Music Group and the
announced acquisition of Clear Channel Communications, as well as
the recent realizations of investments such as Houghton Mifflin and
ProSiebenSat.1. Saban Capital Group Saban Capital Group, Inc. is a
private investment firm specializing in the media and entertainment
industries. Based in Los Angeles, SCG was established in 2001 by
Haim Saban, founder of Saban Entertainment, a global television
broadcasting, production, distribution, merchandising and music
company that was sold to the Walt Disney Corporation in 2001 in a
$5.2 billion transaction. The firm makes both controlling and
minority investments in public and private companies worldwide,
including ProSiebenSat.1, Germany's biggest television group;
Keshet Broadcasting Ltd., Israel's leading television network; and
Bezeq, Israel's national phone company, and adds strategic value
through its established relationships and industry experience.
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