UNIVISION TO STRIP AND SELL SELECT TV STATIONS IN PUERTO RICO TO LIBERMAN

Univision announced an agreement reached with Liberman Media Group, a Hispanic media company based in Burbank, California, to sell and divest some of its Puerto Rico television stations. The financial terms of the deal were not disclosed. “We are confident that the Liberman Media team, as a veteran Spanish-language broadcaster, is the right buyer for these Puerto Rico TV stations,” said Vince Sadusky, CEO of Univision. “We thank our employees at these stations for their hard work and dedication, and we wish them all the best in this next chapter.”

Under the agreement, Univision will sell to Liberman WLII-DT, Caguas-San Juan, and the stations which repeat its signal across the island: WOLE TV-DT, Aguadilla in the Western Area and WSUR-DT, Ponce in the central area. Univision is not selling and will continue to operate, sister station WSTE-DT (TeleIsla Channel 7) as well as its radio properties, including Uforia.

Pending customary regulatory reviews and approvals, the transaction is expected to close before the end of 2020. “We are thrilled to acquire these Puerto Rico television stations and excited that we will be entering the market with a seasoned and talented staff from Univision Puerto Rico,” Lenard Liberman, the President of Liberman Media Group, said. “We are fully committed to continuing the locally-produced programming that has characterized these stations and is beloved by the audience they serve."

A Group led by ForgeLight and Searchlight Capital Partners has agreed to acquire a 64% ownership stake in Univision. The closing of both transactions is expected to occur at the same time. “I am delighted that Univision is taking this necessary step towards the completion of ForgeLight and Searchlight obtaining majority control of Univision,” Wade Davis, CEO, and Founder of ForgeLight, said. “The transaction remains on track to close by year-end and I look forward to being part of the Company’s next phase of growth.”