FCC Approves Univision Buyout

WASHINGTON, March 28: The
Federal Communications Commission (FCC) has approved the buyout of Univision
Communications, the leading Spanish-language broadcaster in the U.S., by a
consortium of private investors.

At the same time, as the
FCC gave its OK to the $12.3 billion acquisition of Univision by a group of
investors that includes Saban Capital Group, Madison Dearborn Partners,
Providence Equity Partners, Texas Pacific Group and Thomas H. Lee Partners,
Univision agreed to pay a fine for failing to meet government rules for
educational children's programming.

The $24 million penalty
involves charges that Univision stations violated a 1996 law requiring
broadcasters to air at least three hours of educational shows for children per
week. The 24 Univision stations aired Spanish-language telenovelas instead.