January 23, 2009 |
After years of bad blood and nearly three weeks of court testimony, Mexico's entertainment giant Grupo Televisa and the dominant Spanish-language TV company in the U.S., Univision Communications Inc., abruptly ended their four-year legal battle Thursday. The settlement averted a potentially disastrous outcome for Univision, which could have lost its pipeline of Televisa's popular soap operas, called telenovelas, that drive Univision's enormous ratings.
March 8, 2008 |
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.
February 29, 2008 |
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%.
December 21, 2007 |
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.
November 21, 2007 |
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.
November 7, 2007
Univision Communications Inc., the Spanish-language broadcaster acquired in March by a group of private investors that includes Los Angeles billionaire Haim Saban, reported a third-quarter loss of $26.8 million as interest costs soared. The net loss compared with a profit of $88.2 million a year earlier, said the New York-based company, owner of the most-watched Spanish-language network in the U.S. Sales rose 4.4% to $529.1 million.