Slims on the move @ Univision.
March 24, 2006
The Mexican tycoon Carlos Slim and his family have increased their share of ownership in Univision Communications stock with a recent acquisition of $288 million.
Current Federal Communications law does not allow foreign ownership of any American broadcast company to excess 25%. The move has been promoted as an independent acquisition on the part of the Slim family, without any intent on behalf of Televisa. Mr. Slim sits on the Televisa Board. Televisa together with the Cisneros family of Venezuela already own close to the limit allowed by US law.
Speculation is that a deal is in place and will be announced shortly. Rumors state that the sale will not been announced until after the World Cup is finished, since Univision Communications wants to reap the sales rewards of their efforts and valuation of the company.
