Univision's new ownership takes over

UNIVISION'S NEW OWNERSHIP TAKES OVER
[SOURCE: Los Angeles Times, AUTHOR: Meg James]
Los Angeles billionaire A. Jerrold Perenchio on Thursday waved adios to the business he has spent nearly 15 years building into the nation's foremost Spanish-language media company, Univision Communications. As expected, the sale of the Century City-based company for $12.3 billion closed Thursday, two days after winning the blessing of the Federal Communications Commission. The new owners, a consortium of investors including another Los Angeles billionaire, Haim Saban, paid $36.25 a share to buy out Univision stockholders, taking the company private. The 76-year-old Perenchio — a former talent agent, boxing promoter, and music, TV and movie producer — collected $1.3 billion for his 11.5% stake. That's a hefty return on the $33 million that Perenchio paid when he joined two Latin American media moguls to buy Univision from Hallmark Cards Inc. in 1992 for $550 million. Since then, the Latino population has grown to more than 42 million in the U.S. today. The company's flagship, Univision, has become the nation's fifth-largest television network, behind CBS, Fox Broadcasting, ABC and NBC.
http://www.latimes.com/business/printedition/la-fi-univision30mar30,1,7968164.story?coll=la-headlines-pe-business
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