Mac Tichenor Resigns From Univision Radio.

Univision Communications Inc. announced that McHenry (Mac) Tichenor, Jr. will resign his position as President of Univision Radio, effective December 31, 2004, to pursue other interests outside of the Spanish-language broadcast business. He will continue to serve as a member of Univision Communications’ Board of Directors and will be a consultant to the Company. Gary Stone will continue running the day to day operations of Univision Radio in his current role as Chief Operating Officer. He has occupied that position since 2001. An internal and external search for Mr. Tichenor’s successor will commence immediately.

Prior to Univision’s merger with Hispanic Broadcasting Corporation (“HBC”), Mr. Tichenor was President and Chief Executive Officer of HBC and its predecessors for over 23 years. HBC became Univision Radio upon its acquisition in September 2003.

“I am pleased that the integration of Hispanic Broadcasting into Univision has been so successful, and that our cross-platform marketing efforts across television, radio, cable and online are progressing ahead of schedule,” said Mr. Tichenor. “I take this step with the comfort of knowing that the radio operation will continue to flourish, thanks to its terrific employees and its solid, proven management team.

“My 25-year career in broadcasting has proved very gratifying, starting with my father and grandfather in a family business, through our decision to specialize in Spanish radio, the merger of Tichenor Media System and Heftel Broadcasting, and, most recently, the acquisition of HBC by Univision. In that time, it has been my privilege to work with many of the most talented and dedicated people in our industry, including my colleagues at Univision. I am bullish on the company’s prospects and look forward to continuing to contribute to its success as a consultant and a member of its Board of Directors.”

“I want to thank Mac Tichenor for his dedication and invaluable help in managing our radio division and overseeing the integration of the division into Univision Communications since the merger last year,” said A. Jerrold Perenchio, Chairman, President and Chief Executive Officer of Univision. “Since the creation of Univision Radio, Mac’s leadership, experience and expertise in the radio industry have been essential to fulfilling our goal of more broadly serving our country’s growing Hispanic audience. Univision is a far stronger, much more diversified company than ever, thanks in large part to Mac’s efforts. The entire Univision team is delighted that Mac will continue to serve on the Company’s Board of Directors and work with us as a consultant.”