Univision Gets OK From FCC To Increase Caps On Foreign Investment In Univision Radio Equity, Voting Interests

Wins Ruling

UNIVISION HOLDINGS, INC. has won a declaratory ruling from the FCC that it can make a pro forma internal restructuring of UNIVISION RADIO that would allow the division to increase the cap of the amount of foreign ownership of equity and voting interests in the division.

UNIVISION contended that with its own indirect wholly-owned subsidiary NOTIVISION, S.A. de C.V., based in MEXICO, acquiring 21% of UNIVISION RADIO, INC. in the reorganization, the cap of 49% for foreign ownership of voting interests and equity would leave too little remaining for foreign investment and thus asked for an increase to 70%. The Commission agreed with UNIVISION's assessment and granted the request, a modification of the previous declaratory ruling that allowed foreign ownership of the parent company to exceed the 25% cap and limited foreign ownership of voting and equity interests to 49%. MEXICO's GRUPO TELEVISA, S.A.B. and TELEVISA owner EMILIO FERNANDO AZCARRAGA JEAN own stakes in UNIVISION but the company's aggregate amount of foreign investment remains under the 25% level.

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