Cisneros/Venevision Joins Televisa Bid For Univision
June 16, 2006 at 12:00 PM (PT)
The CISNEROS GROUP's VENEVISION INVESTMENTS LLC has joined GRUPO TELEVISA's potential bid for UNIVISION. CISNEROS is a major media company in VENEZUELA and will join five private equity firms- BAIN CAPITAL PARTNERS, BLACKSTONE MANAGEMENT ASSOCIATES, CASCADE INVESTMENT, CARLYLE INVESTMENT MANAGEMENT, and KOHLBERG KRAVIS ROBERTS- and the Mexican media giant in its projected bid for UNIVISION.
VENEVISION and TELEVISA are minority investors in the present ownership of UNIVISION, headed by JERRY PERENCHIO, and also supply programming to the network under contracts that expire in 2017. BEAR STEARNS is advising VENEVISION in the deal.