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UNIVISION SALE COMPLETED; PERENCHIO-LED INVESTOR GROUP TO ASSUME IMMEDIATE CONTROL FROM HALLMARK CARDS INC.

 LOS ANGELES, Dec. 17 /PRNewswire/ -- A. Jerrold Perenchio and representatives of Televisa of Mexico, Venevision of Venezuela and Hallmark Cards Inc. met today in Los Angeles to conclude the sale of Univision. As expected since the deal was announced on April 8 on this year, the Federal Communications Commission quickly approved the elements of the transaction involving transfer of the Univision Station Group licenses to the buying group led by Perenchio. The total purchase price is $550 million.
 The Univision buyers, led by Perenchio as majority owner, include as well Grupo Televisa and Venevision as minority partners. Perenchio is an experienced Spanish-language broadcaster, as are his minority partners. "As I said when the announcement was made earlier this year, I look forward to providing the rapidly growing U.S. Hispanic population with the highest quality in television entertainment, news and public affairs, and cultural and children's programming," said Perenchio. "We are committed to maintaining the level of excellence that Hallmark and Univision executives brought to the operation, and to looking for new avenues to expand Univision's resources drawing on the investor group's broad range of capabilities and programming."
 Univision is the largest Spanish-language media and marketing services company in the United States. Its principal operating entities include the Univision network, which reaches 91 percent of U.S. Hispanic households via satellite-interconnected broadcast and cable affiliates; the Univision Station Group, comprised of nine full-power and four low-power stations; and Mas magazine, which has the largest circulation of any Spanish-language magazine in the United States.
 -0- 12/17/92
 /CONTACT: Brian T. Regan, Hill and Knowlton Entertainment, 213-954-5811/


CO: Univision; Hallmark Cards Inc.; Televisa of Mexico; Venevision
 of Venezuela ST: California IN: ENT SU: TNM


JB-KJ -- LA009 -- 7744 12/17/92 14:07 EST
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Publication:PR Newswire
Date:Dec 17, 1992
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