Joint Statement From Univision and Televisa

-The following is a joint statement from Univision Communications Inc. and Grupo Televisa, S.A.B., regarding the U.S. Federal Communications Commission decision:

“The U.S. Federal Communications Commission approved an increase in the authorized aggregate foreign ownership of Univision’s issued and outstanding shares of common stock from 25% to 49%, in a Declaratory Ruling adopted yesterday. In the same ruling, the FCC authorized Televisa to hold up to 40% of the voting interests and 49% of the equity interests of Univision. The Commission concluded that permitting increased foreign investment in Univision would serve the public interest in diversity and competition in the media sector without any countervailing national security, law enforcement or trade policy concerns. The FCC’s decision will enable Univision to accommodate increased foreign investment that may result from share purchases by the public in an IPO while enabling Televisa (an existing investor in, and business partner of, Univision) to increase its current equity stake in the company.”

Your Editor Concurs: More freedom, more diversity