Televisa Invests In Univision
October 5, 2010 at 4:30 PM (PT)
Mexican television network owner GRUPO TELEVISA has purchased a 5% stake in UNIVISION for $130 million, will buy convertible debt in UNIVISION equivalent to an additional 30% stake, and has also struck a new content agreement with UNIVISION's television networks. The total investment comes to $1.2 billion in equity and debt, reports the NEW YORK TIMES, and TELEVISA will have the right to buy 5% more of the company, although foreign ownership of U.S. broadcasters is presently capped at 25%.
UNIVISION will have access to more TELEVISA content under the new programming agreement, with additional royalties due to TELEVISA starting with $48 million more in the first year.