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Univision Communications Inc. Announces Early Results of Tender Offer and Early Acceptance of 9.75%/10.50% Senior Notes due 2015
Nov 24, 2010 (09:11 AM EST)


NEW YORK, Nov. 24, 2010 /PRNewswire/ -- Univision Communications Inc. ("Univision") announced today that, as of Tuesday, November 23, 2010, $1,166.4 million aggregate principal amount of its 9.75%/10.50% Senior Notes due 2015 (the "Notes"), representing approximately 66.70% of the aggregate principal amount of Notes outstanding, were validly tendered and not validly withdrawn (the "Early Tendered Notes"), in connection with its previously announced cash tender offer to purchase up to $460.0 million aggregate principal amount (the "Tender Cap") of its outstanding Notes (the "Tender Offer").

Tenders of Notes are being and will be accepted in base denominations of $1.00 and in integral multiples of $1.00 in excess thereof.  Because Univision is offering to purchase up to $460.0 million, or approximately 26.30%, of the $1,748.9 million aggregate principal amount of Notes outstanding, Univision has accepted a maximum of approximately 26.30%, or $306.8 million aggregate principal amount, of the Early Tendered Notes.  Holders who validly tendered such Early Tendered Notes, and did not validly withdraw their Notes, and whose notes are accepted for payment, will receive $1,070, plus an amount equal to accrued interest, payable in cash, for each $1,000 principal amount of Notes accepted for payment, which amount includes an early tender payment of $30 per $1,000 of Notes accepted for payment.

The Tender Offer is scheduled to expire at 12:01 a.m., New York City time, on December 8, 2010, unless extended (the "Expiration Time").  Promptly following the Expiration Time, Univision expects to accept for purchase, in base denominations of $1.00 and in integral multiples of $1.00 in excess thereof, a minimum of 26.30% of any Notes tendered after the early tender time specified for the Tender Offer and on or prior to the Expiration Time.  Univision expects that any remaining Notes tendered but not purchased will be accepted on such date, subject to the Tender Cap and certain proration procedures, each as described in the Offer to Purchase, dated November 8, 2010 (the "Offer to Purchase").

This news release is neither an offer to purchase nor a solicitation of an offer to sell any notes. The tender offer is being made pursuant to the Offer to Purchase and related letter of transmittal, copies of which are available from Global Bondholder Services Corporation, the Information Agent for the Tender Offer, by calling (866) 873-7700 (U.S. toll free). Persons with questions regarding the tender offer should contact the following dealer manager – Deutsche Bank Securities Inc. at (866) 627-0391 (U.S. toll free) or (212) 250-6429 (call collect).

About Univision Communications:

Univision Communications Inc. is the premier Spanish-language media company in the United States.  Its operations include Univision Network, the most-watched Spanish-language broadcast television network in the U.S. reaching 95% of U.S. Hispanic Households; TeleFutura Network, a general-interest Spanish-language broadcast television network, which was launched in 2002 and now reaches 85% of U.S. Hispanic Households; Galavision, the country's leading Spanish-language cable network; Univision Studios, which produces and co-produces telenovelas, reality shows, dramatic series and other programming formats for all of the Company's platforms; Univision Television Group, which owns and operates 62 television stations in major U.S. Hispanic markets and Puerto Rico; Univision Radio, the leading Spanish-language radio group which owns and/or operates 68 radio stations in 16 of the top 25 U.S. Hispanic markets and 5 stations in Puerto Rico; and Univision Interactive Media, which includes http://www.univision.com, the premier Spanish-language Internet destination in the U.S., and Univision Movil, the industry's most comprehensive Spanish-language suite of mobile offerings. Univision Communications also has a 50% interest in TuTv, a joint venture formed to broadcast Televisa's pay television channels in the U.S. Univision Communications has television network operations in Miami and television and radio stations and sales offices in major cities throughout the United States. For more information, please visit www.univision.net.

This document contains forward-looking statements that involve risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements include: adverse conditions in the capital markets and the failure of holders to participate in the tender offer; changes in federal or state securities laws; and changes in our business and financial condition. The Company assumes no obligation to update forward-looking information contained in this press release.

SOURCE Univision Communications Inc.