Televisa Gears Up to Offload Univision Stake

MEXICO CITY, July 5: Mexico’s Grupo Televisa is prepared to
offload its 11.4-percent stake in Hispanic broadcaster Univision Communications
as it looks to explore other opportunities in the U.S. market.

The Mexican media giant last week failed in its bid to
acquire Univision, which is being sold to a private equity consortium for about
$12.3 billion. That consortium, Umbrella Holdings, LLC, includes Haim Saban, Madison
Dearborn Partners, Providence Equity Partners, Texas Pacific Group and Thomas
H. Lee Partners.

Televisa offloading its stake would release it from a 1996
contract with Univision chief and current majority shareholder A. Jerrold
Perenchio barring it from exploring rival opportunities in the U.S. market.
However, the programming agreement Televisa has with Univision will remain
valid until 2017.

A letter to Umbrella Holdings notes, “Televisa is prepared
to discuss with you a sale of its shares of Univision as soon as possible based
on the present value of the price per share set forth in the Merger Agreement.”