FCC Grants Clearance for Univision’s Acquisition Of USA Broadcasting.

Univision Communications Inc. and USA Networks, Inc. announced that the Federal Communications Commission has granted approval for Univision’s proposed acquisition of USA Broadcasting, a division of USA Networks, Inc.

Univision and USA Networks announced on December 7, 2000 that Univision would acquire USA Broadcasting’s 13 fully owned full-power stations as well as the group’s minority interests in four additional full-power stations for $1.1 billion in cash. The transaction is subject to other customary closing conditions and is expected to close in the second quarter of 2001.

Univision plans to launch a second Spanish-language Network with these stations to meet the growing demand for Spanish-language news and entertainment in the United States. The new network is expected to broadcast in January 2002. The fully owned USA Broadcasting stations are in key television markets, including Los Angeles, New York, Chicago, Philadelphia, Boston, Miami, Dallas, Atlanta, Tampa, Houston, Cleveland and Orlando. The stations in which USA Broadcasting has a minority interest are in San Francisco, Washington D.C., Denver and St. Louis. Univision has recently agreed to acquire all of the assets of the Washington D.C. station from USA Networks and the station’s
majority owner.