Grupo Televisa and Univision to Expand Strategic Relationship
Univision Communications Inc. and Grupo Televisa, S.A.B. (NYSE: TV) -- today announced an agreement in which Televisa will make a substantial investment in Univision and the long-term Program License Agreement (PLA) between the two companies will be expanded and extended. As a result, Televisa and Univision will enhance their respective business potential and value creation opportunities.
Under the terms of the binding agreement, Televisa will invest $1.2 billion in Univision, and contribute its 50 percent interest in TuTV, for a 5 percent equity stake and debentures convertible into an additional 30 percent equity stake of Univision in the future, subject to existing laws and regulations, and have the option to acquire an additional five percent equity stake in Univision.
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