Spanish-language World Cup broadcaster bought out

The United States' Federal Communications Commission approved the buyout of Univision Communications by a group of private investors.

Univision is the largest Spanish-language broadcaster in the U.S., and it holds the nation's Spanish-language rights to broadcast the World Cup. Univision's coverage of the past World Cup drew better U.S. ratings than ESPN.

The company also holds the Spanish-language broadcast rights to Major League Soccer until 2014.

A. Jerrold Perenchio, once a talent agent, boxing promoter, and music, TV and movie producer, gained USD 1.3 billion for selling his 11.5 percent stake. That gives him a USD 33 million return from what Perenchio paid when he and two Latin American media moguls purchased Univision from Hallmark Cards Inc. in 1992 for USD 550 million.

In the 15 years since, the Latino population has grown to more than 42 million in the U.S. Univision now is the nation's fifth-largest television network, trailing ABC, CBS, Fox and NBC.

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.