Network Agrees to $13.7 Bil. Acquisition

NEW YORK Spanish-language TV network Univision today said it has agreed to be acquired by a group of venture capital firms including Madison Dearborn Partners, Providence Equity Partners, Texas Pacific Group, Thomas H. Lee Partners and Saban Capital Group for approximately $13.7 billion, or about $36.25 per share.

Univision is the fifth-largest U.S. network, trailing ABC, CBS, NBC and Fox. The company’s other assets include a second TV network, TeleFutura, launched in 2002; cable network Galavision; as well as local TV and radio stations and a music company.

A. Jerrold Perenchio, chairman and CEO of Univision, said in a statement that the publicly traded company fetched a premium price, which he attributed to “the extraordinary growth of the Hispanic population, Univision’s unique bond with its community and our ability to deliver tremendous audiences to our mainstream advertising partners.”

The agreement has been approved by the board of directors of Univision and is not contingent on financing. The transaction is subject to the approval of Univision shareholders and regulatory approvals, and is expected to close next spring.

The acquiring group said in a statement, “Univision is truly a one-of-a-kind property. It is an outstanding media brand with exceptional positions in the fastest-growing markets in the country, world-class assets, strong management, popular programming and unmatched ratings.”

Univision had net revenue of almost $2 billion in 2005, according to its filings with the U.S. Securities and Exchange Commission.