Univision has plan to meet ownership restrictions after merger. (Media).UNIVISION Communications Inc. has figured out a way to take over 55 radio stations throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. without violating the Federal Communications Commission's cross-ownership restrictions. The L.A.-based media giant was in danger of violating FCC (1) (Federal Communications Commission, Washington, DC, www.fcc.gov) The U.S. government agency that regulates interstate and international communications including wire, cable, radio, TV and satellite. The FCC was created under the U.S. rules in some markets once its merger with radio station owner Hispanic Hispanic Multiculture A person of Mexican, Puerto Rican, Cuban, Central or South American, or other Spanish culture or origin, regardless of race Social medicine Any of 17 major Latino subcultures, concentrated in California, Texas, Chicago, Miam, NY, and elsewhere Broadcasting Corp. was completed. That's because Univision has a 31-percent stake in Entravision Communications Corp., which owns and operates dozens of radio and television stations nationwide. The FCC prohibits a company with two television stations in one market from owning more than six radio stations in the same area. That posed a problem for Univision, which owns the Univision and TeleFutura networks. To come into compliance, Univision plans to restructure its ownership interest in Entravision by exchanging common stock for non-voting stock Non-voting stock is stock that provides the shareholder very little or no vote on corporate matters, such as election of the board of directors or mergers. This type of share is usually implemented for individuals who want to invest in the company’s profitability and success , according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a filing with the Securities and Exchange Commission. Univision expects to complete its merger with Hispanic Broadcasting, which owns or operates 55 radio stations, later this year. The deal is an all-stock deal worth about $3.5 billion. Staff reporter Claudia Peschiutta can be reached at (323) 549-5225 ext. 229, or at cpeschiutta@labusinessjournal.com. |
|
||||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion