Mexico's Televisa Puts $1.2B Into Univision
October 6, 2010 at 4:25 AM (PT)
A new investment from MEXICO's TELEVISA in Spanish-language U.S. broadcaster UNIVISION will help the company's continue its dominance of the Hispanic market. TELEVISA is investing $1.2 billion for a stake of up to 40% in UNIVISION.
The news caused TELEVISA's stock to rise nearly 10% in NEW YORK and nearly 9% in MEXICO CITY.
The deal marks a return for TELEVISA, which sold its 11% stake in UNIVISION after losing a battle for UNIVISION ownership in 2006.
Univision Amends Credit Facilities
UNIVISION COMMUNICATIONS is seeking amendments to its aggregate $8.0 billion senior bank credit facilities which would, among other things, amend certain terms and conditions of the credit facilities and extend the maturity of a substantial portion of its term loan facility due SEPTEMBER 2014 by 2 1/2 years and the maturity of its revolving credit commitments terminating in MARCH 2014 by 2 years.
Lenders consenting to the transaction will be paid a fee on their outstanding credit exposure and commitments after agreeing to the repayment schedule.