Venevision Joins Univision Bid Consortium

NEW YORK, June 16: Venevision Investments, a division of the
Cisneros Group of Companies, is joining a consortium of investors seeking to
acquire U.S. Hispanic broadcaster Univision, teaming with Grupo Televisa and
five investment firms.

Venevision and Televisa are already stakeholders in the
market-leading Spanish-language broadcaster, which is valued at between $12
billion and $14 billion.

Meanwhile, relations between
Televisa and Univision remain tense. The Mexican media giant today issued a
statement in reference to its programming supply deal with Univision, which
expires in 2017. “Televisa has previously given formal notice to Univision
that, due to certain uncured and uncurable breaches by Univision of that
agreement, Televisa believes itself to have the right to terminate the
agreement and is pursuing that position in its pending litigation with
Univision.”