Big City Radio, Inc. announced that the staff of the Federal Communications Commission has denied the Company's application to upgrade one of its' Los Angeles stations from Class A to Class B1.

Big City Radio has missed their $9.8 million interest payment twice in the last year. Last time, they were able to secure a bridge loan to suffice their payment. The money was paid back by the sale of their Phoenix cluster to Hispanic Broadcasting for $34M.

Univision Communications Inc. and Hispanic Broadcasting Corporation announced that they have received a request for additional information from the U.S. Department of Justice (DOJ) pertaining to Univision's pending acquisition of Hispanic Broadcasting.

Entravision Communications Corporation (NYSE: EVC) announced that Andrew Hobson and Michael Wortsman have stepped down from Entravision's Board of Directors. Messrs. Hobson and Wortsman, both serving on Entravision's Board as representatives of Univision Communications Inc.

Hispanic Television Network, Inc. (HTVN) filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Texas, Ft. Worth Division.

Univision Communications Inc. and Hispanic Broadcasting Corporation announced they have entered into a definitive merger agreement under which Univision will acquire Hispanic Broadcasting in an all-stock transaction currently valued at approximately $3.5 billion.

New America Alliance (Alliance), and the Hispanic Association On Corporate Responsibility (HACR) announce their partnership to advance the cause of increased inclusion of American Latinos on U.S. corporate boards.

Who are America's richest Latinos and African-Americans? Black Fortune (http://www.blackfortunemag.com) and

The deal, valued at $2.7 billion, was announced last October.

According to Radio & Records Magazine, the Spanish-language groups enjoyed a boost in fall ratings after Arbitron realigned its Hispanic survey samples.

Spanish Broadcasting System, Inc. announced that it has amended the terms and conditions of the transaction with the International Church of the Foursquare Gospel (ICFG) for the acquisition of KXOL-FM in Los Angeles, California in order to provide a mutually beneficial transition until closing.

StarMedia Network announced that the Nasdaq has informed the Company that its securities will be delisted from The Nasdaq Stock Market effective February 1, 2002. The reason stated by the Nasdaq Listing Qualifications Panel for its

Yahoo! Brasil, a property of Yahoo! Inc. announced it has acquired Cade? (http://cade.com.br) from StarMedia Network.

StarMedia Network announced that it received a Nasdaq Staff Determination on November 21, 2001, indicating that, due to its failure to file its Form 10-Q for the period ended September 30, 2001, StarMedia is not in compliance with the requirement for continued listing set forth in Nasdaq's Market

The Board of Directors of StarMedia Network announced that Susan Segal has been appointed to serve as acting Chairman of the Board.

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