This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Univision Buying Two Entravision Stations

Univision Communications (UVN) is acquiring two big California radio stations from Entravision (EVC - Get Report) for $90 million.

Univision will pay for the stations, in San Francisco and San Jose, with Entravision shares it holds.

Univision's acquisition of the two stations, KBRG-FM and KLOK-AM, falls in line with an earlier agreement between the country's largest Hispanic broadcaster and the Justice Department after its acquisition of Hispanic Broadcasting in 2003. Under that agreement, Univision must reduce its stake in Entravision to 15% by the end of March 2006. This deal is expected to reduce Univision's stake in the company to 20%.

"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," Ray Rodriguez, chief operating officer of Univision, said in a statement. "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."

The transaction is expected to close in early 2006.

Early Tuesday, Univision rose 25 cents to $27.86, and Entravision added 22 cents to $8.49.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
EVC $6.80 0.00%
AAPL $130.28 0.00%
FB $81.53 0.00%
GOOG $565.06 0.00%
TSLA $218.42 0.00%


DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs