Univision Communications Inc. announced that it has reached an agreement to sell certain of its Puerto Rico television stations to Liberman Media Group (“Liberman”), a Hispanic media company based in Burbank, California. Financial terms of the agreement were not disclosed.
Pursuant to the agreement, Univision will sell to Liberman WLII-DT, Caguas-San Juan, and the stations which repeat its signal across the island: WOLE TV-DT, Aguadilla in the Western Area and WSUR-DT, Ponce in the central area. Univision is not selling, and will continue to operate, sister station WSTE-DT (TeleIsla Channel 7) as well as its radio properties, including Uforia.
“We are confident that the Liberman Media team, as a veteran Spanish-language broadcaster, is the right buyer for these Puerto Rico TV stations,” said Vince Sadusky, CEO of Univision. “We thank our employees at these stations for their hard work and dedication, and we wish them all the best in this next chapter.”
Wade Davis, CEO and Founder of ForgeLight said, "I am delighted that Univision is taking this necessary step towards the completion of ForgeLight and Searchlight obtaining majority control of Univision. The transaction remains on track to close by year-end and I look forward to being part of the Company’s next phase of growth.”