GECC - National Hispanic TV Network Message Board

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Technology Stocks : GECC - National Hispanic TV Network

GECC 7.050

+1.6%

3:59 PM EST

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To: jmhollen who started this subject	6/12/2002 9:27:09 AM
From: jmhollen	of 32

GECC related news: If anybody had any doubts about the value of Hispanic broadcasting, this ought to dispel those concerns: Univision agrees to buy Hispanic Broadcasting Stock-swap deal valued at $3.5 billion LOS ANGELES, June 12 - Univision Communications Inc., the No. 1 U.S. Spanish-language television group, on Wednesday said it would buy leading U.S. Spanish-language radio broadcaster Hispanic Broadcasting Corp. for $3.5 billion in stock. THE ACQUISITION BROADENS Univision's reach to the nation's 35 million Hispanics and solidifies it as a media powerhouse, with 50 television and 55 radio stations in top Hispanic markets. Under terms of the definitive merger agreement, Univision will offer 0.85 of its Class A common stock for each Hispanic Broadcasting share. Hispanic Broadcasting will become a wholly owned Univision subsidiary and its chairman, McHenry Tichenor, will serve as president and chief executive of the new Univision radio group once the deal closes, Univision said. Univision said it expects the combined company to report pro forma 2002 revenue of $1.39 billion to $1.44 billion and earnings before interest, tax, depreciation and amortization (EBITDA) of $433 million to $469 million. John :-) .

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