Univision’s sale to investor group complete

first_imgUnivision operates two broadcast networks, Univision and TeleFutura, as well as the cable channel Galavision. The company also owns and operates 62 television stations and 69 radio stations. Univision Communications Inc., the nation’s largest Spanish-language broadcaster, has completed its sale to an investor group. The closing of the $12.3 billion sale to Broadcast Media Partners means the company will become private and its shares will cease trading on the New York Stock Exchange by the end of Thursday. The sale cleared its final hurdle Tuesday when the Federal Communications Commission approved the deal after the company agreed to a record $24 million fine for violating rules that require broadcasters to air at least three hours per week of educational shows for children. The agreement to sell the company to a consortium of investors that includes Saban Capital Group, Madison Dearborn Partners, Providence Equity Partners, Texas Pacific Group and Thomas H. Lee Partners was first announced last June. Univision shareholders approved the offer, valued at $36.25 per share in cash, last September. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img read more