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Univision and Hispanic Broadcasting Respond to
Public Statements Made Today Regarding Their Merger
Los Angeles, CA / Dallas, TX -- Univision Communications Inc. (NYSE: UVN) and Hispanic Broadcasting Corporation (NYSE: HBC) issued the following statement in response to a press release distributed today proposing there should be a separate regulatory framework for transactions involving minority media and alleging that the FCC review of their merger has been rushed.
“The concept of a separate regulatory framework that imposes onerous restrictions on any company that chooses to serve a minority audience is misguided, offensive and discriminatory, and should be rejected out of hand.
The proposed Univision-Hispanic Broadcasting merger was announced in June 2002 and was approved by the Department of Justice in March 2003. For the past 14 months, the file has been open at the FCC to all who want to express support or concern. In that time, thousands of individuals or groups have expressed their views on the merger.
In fact, the merger has received overwhelming support from more than 100 national and regional Hispanic organizations, dozens of prominent political leaders from both major parties, and the Hispanic community at large. These supporters include civil rights groups La Raza and LULAC; industry groups Association of Hispanic Advertising Agencies (AHAA) and The Hispanic Media Coalition; as well as political leaders such as Henry Cisneros, New Mexico Governor Bill Richardson, Senate Minority Whip Harry Reid, Congressional Hispanic Caucus Chairman Ciro Rodriguez, House Majority Whip Roy Blunt, members of Congress Henry Bonilla, Lincoln Diaz-Balart, Mario Diaz-Balart, Martin Frost, Ileana Ros-Lehtinen, Jose Serrano and many others. There have been only two Hispanic Members of Congress who have registered opposition, and only 16 in total, as compared with the 42 who have expressed support.”
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Stephanie Pillersdorf/Brooke Morganstein
Citigate Sard Verbinnen
212-687-8080
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