Univision Communications Inc. announced that the Federal Communications Commission (FCC) has approved its acquisition by Broadcasting Media Partners Inc. ("BMP"), an investor group that includes Madison Dearborn Partners, Providence Equity Partners, TPG, Thomas H. Lee Partners, and Saban Capital Group. The acquisition, at a price of $36.25 per Univision share in cash, is expected to close this month.
"This important step paves the way to close BMP's acquisition of Univision," said Joe Uva, who will become Univision's Chief Executive Officer upon completion of the acquisition. "Univision is the fastest growing media company in the country. I am very excited to begin working with the Company's strong leadership team, talented employees, and partners to build on the great success for which Univision is so well known. Following the transaction, Univision will remain committed to providing the absolute best in Spanish-language information and entertainment while building on Univision's unique connection with its audience and continuing to serve the rapidly growing U.S. Hispanic community."