Televisa not done after losing Univision battle

TELEVISA NOT DONE AFTER LOSING UNIVISION BATTLE
[SOURCE: Reuters, AUTHOR: Cyntia Barrera Diaz]
Televisa may have lost a bidding battle for partner Univision, but analysts believe the Mexican media group is still the most likely long-term buyer of the No. 1 U.S. Hispanic broadcaster. Univision said on Tuesday it accepted a $12.3 billion cash offer by an investor group led by media entrepreneur Haim Saban, edging out favored suitor Televisa after weeks of tense negotiations between the parties. But with no broadcasting experience and because of the tendency of equity groups to buy and then resell, Televisa could still snap up Univision by using its strong leverage in the Spanish-language media world. Televisa, which owns 11.4 percent of Univision, has a long- term programming deal with the U.S Spanish-language broadcaster that expires in 2017 and the Saban group will still have to deal with Televisa because of this agreement. "The winning consortium will ultimately want to sell Univision and Televisa remains the logical buyer," said Merrill Lynch in a report.
http://today.reuters.com/news/newsArticle.aspx?type=industryNews&storyID...

* Televisa Balks at Univision Deal
http://www.multichannel.com/article/CA6347403.html?display=Breaking+News

* Univision Jilts Televisa for Rival Bid
http://www.nytimes.com/2006/06/28/business/media/28univision.html

* How Televisa Lost Univision Bid
http://www.latimes.com/business/printedition/la-fi-univision28jun28,1,65...
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