Univision To Acquire Entravision’s KLOK-AM/KBRG-FM.

Univision Communications Inc. and Entravision Communications Corporation announced that they have entered into a definitive agreement under which Univision will acquire radio stations KBRG(FM) and KLOK(AM) serving the San Francisco/San Jose, California market from Entravision for $90 million. It is expected that Univision will pay for the acquisition with shares of Entravision common stock held by Univision.

As part of its acquisition of Hispanic Broadcasting Corporation in 2003, Univision reached an agreement with the Department of Justice (DOJ) to reduce its stake in Entravision to 15% by March 26, 2006. This transaction is expected to reduce Univision’s ownership stake in Entravision to approximately 20% and represents the first step Univision will take to meet the DOJ requirement.

“This transaction represents a unique opportunity for us to acquire two attractive radio stations in a market with a rapidly growing Hispanic population while fulfilling our regulatory requirements in a timely, responsible manner,” said Ray Rodriguez, President and Chief Operating Officer of Univision Communications. “We are confident that these stations will benefit from the tremendous cross promotion opportunities provided by Univision’s two television stations and four other radio stations in the market.”

“Our acquisition of KBRG and KLOK accomplishes two important strategic goals for Univision Radio; it will expand our format offerings in the growing San Francisco/San Jose market and increase the distribution of our popular national AM radio network, RadioCadena,” added Gary Stone, Chief Operating Officer of Univision Radio.

Walter F. Ulloa, Chairman and Chief Executive Officer of Entravision, commented, “This a very attractive transaction that we believe will enhance stockholder value as we efficiently repurchase a substantial portion of Univision’s equity interest in our company. We have remained consistent in our strategy of focusing our resources on fast-growing, high-density Hispanic markets that offer us a clear path to building leadership positions. Going forward, we will continue to evaluate our portfolio to ensure that we are best positioned to capitalize on the tremendous growth of the nation’s Hispanic population.”