Univision Announces Tender Offer for its 9.75%/10.50% Senior Notes due 2015

NEW YORK, Nov. 9, 2010 /PRNewswire/ -- Univision Communications Inc. (the "Company"), today announced that it has commenced a tender offer to purchase up to $460.0 million aggregate principal amount of its outstanding 9.75%/10.50% Senior Notes due 2015. The Company currently has $1,748.9 million aggregate principal amount of the notes outstanding and the tender offer will represent an offer for up to approximately 26.30% of the notes. The tender offer is being made pursuant to an offer to purchase and a related letter of transmittal, each dated as of November 8, 2010. The tender offer will expire at 5:00 p.m., New York City time, on December 7, 2010, unless extended. The principal amount of notes purchased in the tender offer from any individual holder may be prorated (including in connection with early settlement) as set forth in the offer to purchase.

Holders of notes that are validly tendered prior to the early tender time of 5:00 p.m., New York City time, on November 22, 2010 and accepted will receive the total consideration of $1,070 per $1,000 principal amount of notes, which includes the early tender consideration of $30 per $1,000 principal amount of notes, plus any accrued and unpaid interest up to, but not including, the settlement date.

Holders of notes that are validly tendered after the foregoing early tender time but on or prior to the expiration of the tender offer and accepted will receive the tender offer consideration of $1,040 per $1,000 principal amount of notes, plus any accrued and unpaid interest up to, but not including, the settlement date. Holders of notes tendered after the early tender time will not receive the early tender consideration.

The tender offer is contingent upon the Company's successful completion of one or more debt financing transactions, including potential debt securities offerings, in an amount sufficient to fund the purchase of the validly tendered notes accepted for purchase and to pay all fees and expenses associated with such financing and the tender offer. The tender offer is not conditioned on any minimum amount of notes being tendered. The Company may amend, extend or terminate the tender offer in its sole discretion.

This news release is neither an offer to purchase nor a solicitation of an offer to sell any notes. The tender offer is being made pursuant to the offer to purchase and related letter of transmittal, copies of which will be delivered to all holders of the Company's 9.75%/10.50% Senior Notes due 2015. Persons with questions regarding the tender offer should contact the following dealer manager – Deutsche Bank Securities Inc. at (866) 627-0391 (U.S. toll free) or (212) 250-6429 (call collect).

About Univision Communications:

Univision Communications Inc. is the premier Spanish-language media company in the United States.  Its operations include Univision Network, the leading Spanish-language broadcast television network in the U.S. reaching approximately 97% of U.S. Hispanic Households; TeleFutura Network, a general-interest Spanish-language broadcast television network, which was launched in 2002 and now reaches approximately 86% of U.S. Hispanic Households; Galavision, the country's leading Spanish-language cable network; Univision Studios, which produces and co-produces telenovelas, reality shows, dramatic series and other programming formats for all of the Company's platforms; Univision Television Group, which owns and operates 56 television stations in major U.S. Hispanic markets and Puerto Rico; Univision Radio, the leading Spanish-language radio group which owns and/or operates 65 radio stations in 16 of the top 25 U.S. Hispanic markets and 5 stations in Puerto Rico; and Univision Interactive Media, which includes http://www.univision.com, the leading Spanish-language Internet destination in the U.S., and Univision Movil, the leading provider of mobile products and services to the Hispanic mobile market. Univision Communications also has a 50% interest in TuTv, a joint venture formed to broadcast Televisa's pay television channels in the U.S. Univision Communications has television network operations in Miami and television and radio stations and sales offices in major cities throughout the United States. For more information, please visit www.univision.net.

This document contains forward-looking statements that involve risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements include: adverse conditions in the capital markets and the failure of holders to participate in the tender offer or our inability to secure financing on suitable terms or at all; changes in federal or state securities laws; and changes in our business and financial condition. Actual results may differ materially due to these risks and uncertainties as well as those described in the Company's annual and quarterly reports and in the offering material for its notes. The Company assumes no obligation to update forward-looking information contained in this press release.

SOURCE Univision Communications Inc.