Report: Televisa Mulls New Univision Bid

LOS ANGELES/MEXICO CITY, September 12: According to the New
York Times, Grupo Televisa and a consortium of investors are mulling a new bid
of $13 billion for Hispanic broadcaster Univision Communications, which in June
approved $12.3-billion offer from private equity firms Texas Pacific Group,
Thomas H. Lee Partners, Madison Dearborn Partners, Providence Equity Partners
and Haim Saban.

Shareholders are due to vote on the original offer on
September 27, the Times reports. Televisa is said to have held a series of meetings
with representatives from Bain Capital and Bill Gates’ Cascade Investments
about coming up with a renewed offer of at lest $38 per share before that date.

Obstacles for Televisa include the foreign ownership cap of
25 percent, as well as a clause in Univision’s original sale agreement that
calls for it to shell out $300 million to the consortium if it accepts a higher
offer.