NEW YORK, Dec. 22, 2010 /PRNewswire/ -- Univision Communications Inc. (the "Company"), today announced that it has commenced a tender offer to purchase up to $1,005 million aggregate principal amount of its outstanding 9.75%/10.50% Senior Notes due 2015. The Company currently has $1,288.9 million aggregate principal amount of the notes outstanding and the tender offer will represent an offer for up to approximately 77.975% 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 December 22, 2010. The tender offer will expire at midnight, New York City time, on January 21, 2011, 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 January 6, 2011 and accepted will receive the total consideration of $1,065 per $1,000 principal amount of notes, which includes the early tender consideration of $30 per $1,000 principal amount of notes, plus an amount equal to 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 $1,035 per $1,000 principal amount of notes, plus an amount equal to 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.
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 terms and conditions contained in 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. The Company may amend, extend or terminate the tender offer in its sole discretion. 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. (UCI) is the premier media company serving the U.S. Hispanic community. Its assets include Univision Network, one of the top five networks in the U.S. regardless of language and the most-watched Spanish-language broadcast television network in the U.S. reaching 95% of U.S. Hispanic Households; TeleFutura Network, a general-interest Spanish-language broadcast television network, reaching 85% of U.S. Hispanic Households; Galavision, the country's leading Spanish-language cable network; Univision Studios, which produces and co-produces reality shows, dramatic series and other programming formats for the Company's platforms; Univision Local Media, which owns and/or operates 62 television stations and 70 radio stations in major U.S. Hispanic markets and Puerto Rico; Univision Interactive Media, which includes Univision.com, the leading Spanish-language Internet destination in the U.S., and Univision Movil, the industry's most comprehensive Spanish-language suite of mobile offerings; and TuTv, U.S. outlet for pay television channels of Mexico-based Grupo Televisa. Headquartered in New York City, UCI 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; 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. The Company assumes no obligation to update forward-looking information contained in this press release.
SOURCE Univision Communications Inc.