Televisa Is Working on Bid for Univision

TELEVISA IS WORKING ON BID FOR UNIVISION
[SOURCE: Los Angeles Times, AUTHOR: Meg James]
The board of Mexico's broadcasting giant, Grupo Televisa, on Thursday authorized senior executives to put together a bid to increase its ownership stake in Spanish-language broadcaster Univision Communications. The Mexico City company produces the wildly popular telenovelas that generate about 40% of Univision's revenue, and is eager for a bigger slice of the U.S. Spanish-language advertising pie. Televisa holds about 11% of the shares of Los Angeles-based Univision. Its 38-year-old chairman, Emilio Azcarraga Jean, has long searched for a way to reclaim the company that his grandfather launched in 1961. Televisa could not buy Univision outright. U.S. rules prevent foreign citizens from owning more than 25% of a U.S. broadcasting company. That restriction forced Azcarraga's father to sell the Univision TV stations two decades ago.
http://www.latimes.com/business/printedition/la-fi-televisa28apr28,1,274...
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