Univision Company

Univision Communications Inc. still faces a key regulatory hurdle in its proposed $2-billion acquisition of Spanish-language radio chain Hispanic Broadcasting. Regulators at the Federal Communications Commission said in a letter this week that Univision's plan to assuage antitrust concerns by reducing its influence over another Spanish- language firm might not be enough. The FCC letter marks an unexpected holdup.

Univision Communications Corp., the nation's largest Spanish-language broadcaster, said Thursday that its fourth-quarter profit more than tripled. Executives with the Los Angeles-based company also said they expected to win approval from federal regulators later this month for the $2-billion acquisition of radio chain Hispanic Broadcasting Corp. of Dallas.

Federal antitrust regulators on Wednesday agreed to Univision Communication Inc.'s $2-billion purchase of Hispanic Broadcasting Corp. -- as long as Univision follows through on plans to curtail its influence in a related TV and radio company. The approval, which had been expected, removes a major hurdle that has held up Univision's plan to grow into a television, radio and record label behemoth commanding two-thirds of advertising dollars spent on Spanish-language media in the United States.

Univision Communications said Wednesday that it is buying two TV stations -- one near Sacramento, the nation's 15th-largest Latino market, and another in Raleigh, N.C. -- increasing the Los Angeles-based Spanish-language conglomerate's portfolio to 53 stations. Terms of the deals were not disclosed. Univision said it has agreed to buy KFTL Channel 64 in Stockton from Family Stations Inc.

Spanish-language television giant Univision Communications launches a third network today in an ambitious attempt to capture the company's most elusive audience: bilingual Latinos who primarily watch English-language television. The Los Angeles-based company has spent more than $1.4 billion during the last year to expand its dominance in the Spanish- language media sector by piecing together the new broadcast network it is calling TeleFutura. When TeleFutura goes on the air at 4 p.m.

How many Latinos are watching Spanish-language television? About 30% more in Los Angeles than Nielsen's ratings show, according to Spanish-language broadcasters, who say the TV ratings firm is chronically underestimating Latino viewers.

In meetings with ad buyers here this week, executives from Univision Communications Inc. and Telemundo Communications Group, the country's largest Spanish-language broadcasters, said that Nielsen Media Research is close to unveiling a new system of counting Spanish-speaking homes. The move potentially would give these broadcasters higher ratings and allow them to charge more for ads.

Univision Communications Inc. is acquiring the nation's largest Spanish-language radio network, Dallas-based Hispanic Broadcasting Corp., in a $3.5-billion stock deal that would round out its portfolio as a media conglomerate, sources close to the transaction said Tuesday. Los Angeles-based Univision commands more than 70% of the Spanish-language TV market and owns three record labels but before this deal had no voice in radio.

Spanish-language broadcasting giant Univision Communications Inc. on Wednesday lowered its earnings estimates for the rest of this year, saying TV advertising sales have been slower than expected and that start-up costs for its young TeleFutura broadcast network have been higher than anticipated. The Los Angeles-based company revised its outlook during a conference call with analysts to announce its second-quarter earnings.

Verizon Communications Inc.'s Verizon Information Services agreed to provide users of Univision Communication Inc.'s Univision Online Spanish-language Internet site with phone-directory services in Spanish. A Spanish version of Verizon Information's SuperPages.com Web site offers telephone-directory listings in Spanish to Univision visitors. SuperPages.com is the only national Spanish-language and online directory for Latino Internet users in the United States. Verizon started SuperPages.