Post by James Allan on Mar 27, 2012 3:50:07 GMT -5
Texas Pacific investment group owns Univision the spanish television station and needs illegals for profit.
Ever wonder what's fueling illegal immigration and sanctuary cities? Ever wonder who's paying our democratic politicians to keep the borders open?.
On February 9, 2006, Univision Communications confirmed that it was putting itself up for sale. Rupert Murdoch, chairman of News Corporation, stated that his company was considering buying Univision, but backed off that position. Other expected bidders announced were Time Warner, CBS, Disney, Grupo Televisa of Mexico (under a partnership, due to foreign ownership laws in the U.S.), Bill Gates, and several private equity firms. Tribune Company was rumored to be interested in buying TeleFutura, a subsidiary network of Univision.
On June 27, 2006, Univision announced that it accepted a $12.7 billion bid from a group of private equity investors led by TPG Capital and Thomas H. Lee Partners. The investor group also included Madison Dearborn, Providence Equity, and children's television mogul Haim Saban. On March 27, 2007, federal regulators approved the sale. According to the Los Angeles Times, the deal was closed and the ownership change was made official on that same day
Post by James Allan on Mar 27, 2012 3:56:50 GMT -5
GE unit buys Hispanic broadcaster Telemundo for $1.98 billion cash and stock.
NBC eyes Telemundo - Aug. 20, 2001 AOL in for Telemundo? - Aug. 30, 2001
NEW YORK (CNNmoney) - NBC became the first major U.S. network to add a Spanish-language broadcast channel to its fold Thursday, buying Telemundo Communications Group for about $1.98 billion in its largest acquisition.
NBC said the deal is equally split between cash and stock of NBC parent General Electric Co. (GE: up $1.04 to $38.95, Research, Estimates). NBC also will assume $700 million in debt.
Telemundo's national 24-hour network reaches 88 percent of total Hispanic television households and the company also owns 10 stations in top Hispanic U.S. markets.
CNNfn's Jen Rogers has more on NBC's acquisition of Spanish language broadcast Telemundo.
The company also operates the No. 1 station in Puerto Rico and two cable channels.
There are more than 35 million Hispanics in the United States, according to the 2000 U.S. Census, or about 13 percent of the population. Hispanics have a combined annual purchasing power estimated at some $500 billion.
"The vibrant Hispanic market accounts for a significant and growing share of the nation's economy and we are eager to draw on Telemundo's expertise to better serve this important audience," NBC Chairman and CEO Bob Wright said.
Most industry experts said they thought NBC overpaid for Telemundo, which draws about 20 percent of Hispanic viewers in the United States, while Univision Communications Inc., with about 80 percent of Hispanic viewers, has a market capitalization of about $6 billion.
With estimated cash flow of about $60 million, Telemundo garnered a 45 multiple for its business.
However, the deal is sweet for Telemundo's majority owners, Liberty Media and Sony Pictures Entertainment, which paid $539 million for their combined 75 percent stake in 1997. Sony holds 40 percent and Liberty Media 35 percent, with the balance in the hands of financial investors.
"Telemundo is actually a distant number two to Univision and really therein lies the opportunity," said Michael Regan, analyst with Credit Suisse First Boston. "Telemundo is a growth platform for NBC and that's what (GE Chairman and CEO) Jeff Immelt and GE are all about now, creating growth platforms for the future."
"The Hispanic market is the best demographic market for advertisers in the U.S. today with outstanding growth, so this is a great deal," Regan said.