Univision Completes Acquisition Of Entravision Radio Stations In SF/SJ Markets.

Univision Communications Inc. and Entravision Communications Corporation announced that on January 1, 2006, they completed the previously announced acquisition by Univision of radio stations KBRG(FM) and KLOK(AM) serving the San Francisco/San Jose, California market from Entravision for $90 million.

Univision paid for the acquisition with approximately 12.6 million shares of Entravision Class U common stock held by Univision, based on the volume weighted average price of a share of Entravision Class A common stock during the 10-trading day period ending two trading days prior to the close of the transaction.

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 reduces Univision’s ownership stake in Entravision to approximately 19.8%.

“With the completion of this strategic transaction, Univision has taken a significant step towards its necessary regulatory compliance while supplementing our existing offerings in the San Francisco/San Jose markets and incorporating KBRG and KLOK into our successful cross-promotion efforts,” said Gary Stone, Senior Vice President and Chief Operating Officer of Univision Radio. “Both stations will play important roles in the growth of our radio business — KBRG will allow us to provide the growing Hispanic population in the market with a new format choice and KLOK will increase the distribution of our successful AM network, RadioCadena.”

Walter Ulloa, Chairman and Chief Executive Officer of Entravision, commented, “With the sale of our San Francisco/San Jose radio stations, we have repurchased a substantial portion of Univision’s equity interest in our company. We believe this was a highly efficient transaction that is beneficial for our shareholders.”