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Univision Communications Inc

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BUSINESS
April 29, 2006 | From Bloomberg News
Carlos Slim Domit, a member of Grupo Televisa's board, has withdrawn from the company's planning to bid for Univision Communications Inc. because of a conflict of interest. Slim Domit removed himself after Mexico City-based Televisa disclosed he had purchased 3.8% of Univision between March 9 and April 3.
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BUSINESS
March 8, 2008 | Meg James, Times Staff Writer
Saying it had expected Univision Communications Inc. to gain more on the sale of its music division, ratings agency Standard & Poor's this week downgraded the corporate credit ratings of the Spanish-language media company to a B-minus from a B. Univision last week announced it had reached an agreement to sell its music division to Universal Music Group for $153 million, of which $113 million is due to Univision upon closing. That amount was "significantly lower than expected" and not enough to repay a $500-million bridge loan that matures in March 2009, S&P said.
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BUSINESS
November 21, 2007 | From Times Wire Services
Univision Communications Inc., the Spanish-language broadcaster purchased in March by private investors, said three directors resigned from its board last month. Richard J. Bressler, James P. Carlisle and Scott M. Sperling resigned Oct. 17, the company said. Bressler and Sperling are managing directors of Thomas H. Lee Partners, one of the investment groups that took Univision private.
BUSINESS
February 29, 2008 | Meg James, Times Staff Writer
Seeking to become el grande in the growing U.S. Latin music market, Universal Music Group on Thursday said it had agreed to buy Univision Communications Inc.'s record division. The purchase price was nearly $140 million, according to two people close to the negotiations who asked not to be identified because the financial terms were confidential. The acquisition, which is subject to regulatory approval, would more than triple Universal's share of the Latin music market to about 49%.
BUSINESS
June 16, 2006 | From Reuters
Venezuelan media investor Gustavo Cisneros said Venevision Investments had joined a group of bidders exploring an offer for U.S. Spanish-language broadcaster Univision Communications Inc. Cisneros said Venevision, a privately held Venezuelan broadcaster controlled by his family, had joined with five private equity firms and Mexican broadcaster Grupo Televisa to explore a deal with Univision.
BUSINESS
June 7, 2005 | Meg James
Herbalife Ltd. Chief Executive Michael O. Johnson was named an independent director of Univision Communications Inc., the Century City-based Spanish-language media company. Before joining the nutrition firm in 2003, Johnson spent 17 years at Walt Disney Co., where he headed the Burbank-based conglomerate's worldwide video group and was president of Disney International. -- Meg James
BUSINESS
March 23, 2004 | Meg James
Spanish-language media giant Univision Communications Inc. named Jeffrey T. Hinson chief financial officer and executive vice president of the Los Angeles-based company, replacing longtime CFO George Blank. Hinson, 49, will report to Univision Chief Executive A. Jerrold Perenchio. Hinson had been CFO and senior vice president of the Dallas-based Hispanic Broadcasting Corp. radio chain, which Univision acquired in September.
BUSINESS
August 10, 2007 | From Times Wire Services
Univision Communications Inc., the Spanish-language broadcaster acquired by private investors, reported a second-quarter loss as expenses rose. The loss of $19.5 million contrasts with profit of $107.4 million, or 32 cents a share, a year earlier. Per-share results for last year's second quarter weren't reported. Sales fell 6.9% to $562.2 million in the period ended June 30. Univision recently moved its headquarters from Los Angeles to New York.
BUSINESS
March 23, 2006 | From Reuters
Three private equity firms have formed a group to explore a bid for Spanish-language broadcaster Univision Communications Inc., according to sources familiar with the matter. Goldman Sachs Capital Partners, Texas Pacific Group and Thomas H. Lee Partners have teamed up to weigh an offer for Univision, sources said. The company put itself up for sale last month and could fetch more than $10 billion.
BUSINESS
July 27, 2005 | From Reuters
Univision Communications Inc., the No. 1 Spanish-language broadcaster in the United States, said it agreed to purchase two radio stations from Entravision Communications Corp. for $90 million. Univision said it expected to pay for the transaction with Entravision shares it owns, part of a commitment to reduce its stake in Entravision to 15% under the company's 2003 purchase of Hispanic Broadcasting Corp. Univision will purchase stations KBRG-FM (100.
BUSINESS
December 21, 2007 | Meg James, Times Staff Writer
Grupo Televisa has won a court ruling that could allow the Mexican broadcasting giant to move closer to ending its tumultuous relationship with Univision Communications Inc., the largest Spanish-language media company in the United States. U.S. District Court Judge Philip S. Gutierrez in Los Angeles on Monday denied Univision's request to dismiss several claims made by Televisa in a 2-year-old lawsuit.
BUSINESS
November 21, 2007 | From Times Wire Services
Univision Communications Inc., the Spanish-language broadcaster purchased in March by private investors, said three directors resigned from its board last month. Richard J. Bressler, James P. Carlisle and Scott M. Sperling resigned Oct. 17, the company said. Bressler and Sperling are managing directors of Thomas H. Lee Partners, one of the investment groups that took Univision private.
BUSINESS
October 4, 2007 | Lorenza Munoz and Meg James, Times Staff Writers
Univision Communications Inc. on Wednesday named a new general manager to its flagship television stations in Los Angeles and charged her with boosting revenue and restoring order to KMEX-TV Channel 34, which has been engulfed in management turmoil for nearly six months. Maelia Macin, the former head of the network's stations in Austin, Texas, worked at KMEX in the 1990s as a local sales manager. She replaces Jorge Delgado, who was fired from Univision this year.
BUSINESS
August 10, 2007 | From Times Wire Services
Univision Communications Inc., the Spanish-language broadcaster acquired by private investors, reported a second-quarter loss as expenses rose. The loss of $19.5 million contrasts with profit of $107.4 million, or 32 cents a share, a year earlier. Per-share results for last year's second quarter weren't reported. Sales fell 6.9% to $562.2 million in the period ended June 30. Univision recently moved its headquarters from Los Angeles to New York.
BUSINESS
August 9, 2007 | Meg James, Times Staff Writer
A Los Angeles-based Latino record label has sued Univision Music for more than $10 million, claiming the Spanish-language company tried to financially crush the music firm after it spurned an alleged scheme to bribe radio stations into prominently airing Univision's music. Platino Records' lawsuit, filed Tuesday in Los Angeles County Superior Court, alleged that executives at Univision Music drove down Platino's sales after the firm's owner, Alberto Mitchell, refused to participate.
BUSINESS
July 31, 2007 | From Reuters
The world's largest music companies have expressed interest in buying Univision Communications Inc.'s music unit, with an auction expected to pick up this week, sources familiar with the matter said Monday. Potential bidders will start looking at the books of the Latin music unit. Univision decided in February to put it up for sale, according to a report in the Financial Times on Monday. The Los Angeles-based Spanish-language broadcaster is trying to trim debt since its $12.
BUSINESS
October 10, 2003 | From Reuters
The Securities and Exchange Commission said four people had settled charges of insider trading ahead of last year's announcement that Univision Communications Inc. was going to acquire Hispanic Broadcasting Corp. The defendants include Ernest Bieling, a former employee in Univision's corporate finance department, and Robert Hughes, a member of Hispanic Broadcasting's board of directors. Also settling were Stephen White, a broker in the Dallas office of Stephens Inc., and his brother, William.
BUSINESS
November 15, 2005 | Meg James
Spanish-language media giant Univision Communications Inc. named Michael Wortsman president of the Univision Television Group. Wortsman previously served as co-president along with Thomas Arnost, who resigned last week. "Under Mike's leadership, we expect to see great improvements in sales at the station group," Univision President Ray Rodriguez said in a statement. The Los Angeles company also said that Charles Stuart had been promoted to sales director for the group of 62 TV stations.
BUSINESS
February 28, 2007 | Meg James, Times Staff Writer
A top advertising executive was named Tuesday as chief executive of Univision Communications Inc., signaling a priority by the company's prospective owners to squeeze more money from Madison Avenue for the huge Latino audience the TV broadcaster delivers. The group of private investors preparing to pay $12.3 billion for the Los Angeles-based company hired Joe Uva, 51, as the successor to Bel-Air billionaire A. Jerrold Perenchio, who has run Univision for nearly 15 years.
BUSINESS
September 28, 2006 | Meg James, Times Staff Writer
Univision Communications Inc. shareholders Wednesday approved Chairman A. Jerrold Perenchio's hard-fought deal to sell the Los Angeles-based company for $12.3 billion to a group of private investors. Univision received the support of 63% of shareholders -- just clearing the 60% needed to win approval of the deal. "Jerry Perenchio might have been sweating a little bit at the last minute there," said David Joyce, media analyst with Miller Tabak & Co.
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