Entravision repurchases 7M shares from Univision.

Univision Communications Inc. and Entravision Communications Corporation announced that Entravision has agreed to repurchase 7 million shares of its Class U common stock held by Univision for an aggregate purchase price of $51.1 million, or $7.30 per share. The closing is expected to take place on March 2, 2006.

As part of its acquisition of Hispanic Broadcasting Corporation in 2003, Univision reached an agreement with the United States Department of Justice (DOJ) to reduce its stake in Entravision to 15% by March 26, 2006. Today’s announced share repurchase transaction, coupled with the recent closing of Univision’s purchase of Entravision’s radio stations serving the San Francisco/San Jose market for approximately 12.6 million shares of Entravision Class U common stock, will reduce Univision’s current ownership stake in Entravision to less than 15%.

Walter Ulloa, Chairman and Chief Executive Officer of Entravision, commented, “Today’s repurchase announcement and recently completed sale of our San Francisco/San Jose radio stations reduces Univision’s ownership stake in Entravision to comply with Univision’s DOJ agreement. We took a strategic approach to resolving this issue and believe these transactions represent prudent uses of non-strategic assets and cash that will enhance shareholder value.”