Televisa’s Bid for Univision is Too Low

NEW YORK, June 26: The sale of Univision Communications, the
leading Spanish-language network in the U.S., is in doubt after the Mexican
broadcaster Televisa offered a bid that was lower than expected.

According to The New York Times, Televisa’s bid was for $35.75 a share, less than
the expected $36 a share. Last week Univision turned down an offer for $35.25 a
share and the broadcaster could cancel the auction if it does not receive a
higher bid.

Univision’s bid was backed by Cascade Investment, a firm
controlled by Bill Gates, and the private equity firm Bain Capital.

Last Friday, Venevision Investments LLC, a Cisneros Group
Company announced it would not participate with Cascade Investment, Bain
Capital and Televisa in the initial phase of presenting a plan or proposal for
a transaction with Univision.