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Univision Communications Inc. Announces the Expiration of its Tender Offer for Any and All of its 12% Senior Notes Due 2014 and Related Consent Solicitation

May 23, 2011

NEW YORK, May 23, 2011 /PRNewswire/ — Univision Communications Inc. (the “Company”), today announced that its previously announced cash tender offer to purchase any and all of its outstanding 12% Senior Secured Notes due 2014 (the “Notes”) and solicitation for consents to certain proposed amendments to the indenture governing the Notes (the “Indenture”) expired at midnight, New York City time, on Friday, May 20, 2011 (the “Expiration Time”). As of the Expiration Time, $524,455,000 aggregate principal amount of the outstanding Notes (approximately 96.23%) were validly tendered (the “Tendered Notes”). The Tendered Notes were tendered prior to the early tender time of 5:00 p.m., New York City time, on May 6, 2011 (the “Early Tender Time”), and the Company accepted and settled all of the Tendered Notes on May 9, 2011. The consents received prior to the Early Tender Time exceeded the requisite consents needed to approve all of the proposed amendments and the Company entered into a supplemental indenture to the Indenture on May 9, 2011. No additional Notes were tendered and no additional consents were delivered after the Early Tender Time and prior to the Expiration Time.

Pursuant to the terms of the tender offer, Notes not tendered in the tender offer will remain outstanding. The Company has delivered a redemption notice for any all outstanding Notes pursuant to the terms of the Indenture, as amended, and all remaining outstanding Notes will be redeemed on June 8, 2011.

About Univision Communications:

Univision Communications Inc. (UCI) is the premier media company serving the U.S. Hispanic community. Its assets include Univision Network, the leading Spanish-language broadcast network in the United States, which is available in approximately 97% of all U.S. Hispanic television households; TeleFutura Network, a general-interest Spanish-language broadcast television network, which is available in approximately 86% of U.S. Hispanic television households; Galavision, the leading Spanish-language cable television network in the United States; Univision Studios, which produces and co-produces reality shows, dramatic series and other programming formats for the Company’s platforms; Univision Local Media, which owns and/or operates 56 television stations and 65 radio stations in major U.S. Hispanic markets and Puerto Rico; Univision Interactive Media, which includes Univision.com, the leading Spanish-language Internet destination in the U.S., and Univision Movil, a leading provider of mobile products and services to the Hispanic mobile market; and TuTv, U.S. outlet for pay television channels of Mexico-based Grupo Televisa. Headquartered in New York City, UCI has television network operations in Miami and television and radio stations and sales offices in major cities throughout the United States. For more information, please visit www.univision.net.

This document contains forward-looking statements that involve risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements include: adverse conditions in the capital markets; changes in federal or state securities laws; and changes in our business and financial condition. The Company assumes no obligation to update forward-looking information contained in this press release.

SOURCE Univision Communications Inc.


Source: newswire



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