Televisa Submits Univision Bid

MEXICO CITY/NEW YORK, June
23: Grupo Televisa today submitted a bid for Univision, wire reports indicate,
despite losing three of its partners in a dispute over price.

The Televisa-led
consortium—including Venevision, Bain Capital and Bill Gates' Cascade
Investment—missed the previous Tuesday deadline, while the Haim Saban-led
consortium submitted an offer that was deemed too low, sending the entire
auction process into doubt. The details of the Televisa bid have not been
released, but the Mexican media giant is said to have offered more than the $11
billion submitted by Saban. "People are more confident that a deal is
likely to come through and at a higher price than the initial round of
bids," David Bank, an analyst at RBC Capital Markets, told Reuters.