Friday, February 28, 2003
  • Regulators Approve Univision-HBC Deal

    Shareholders of Univision Communications and Hispanic Broadcasting Corp. will vote today on whether to approve a $3.5 billion deal that will create the largest Spanish-language media company in the U.S. Thursday, the companies reached a tentative agreement with the justice Department that will allow the deal to move forward. As part of the agreement, Univision agreed to limit its ownership in Entravision, a competing Spanish-language radio and TV broadcaster. To meet that requirement, the combined Univision-HBC will cut its 27% stake in Entravision to less than 10% by 2009, and it will give up its voting rights in Entravision. The ... ...Read the whole story

  • Red Herring Seeks Buyers

    The red in Red Herring may be for red ink, as the title is apparently putting itself on the block for buyer. TheDeal.com says the high-tech title is being shopped for just $2 million, fraction of the $200 million offer it once refused from Time Inc. Investment banker DeSilva & Phillips has been retained by parent RHC Media to find a buyer. Ad pages for the bi-monthly fell 66% in 2002, following a 64% decrease in 2001, according to Publishers Information Bureau. Red Herring reorganized last fall, winning new capital to keep the magazine afloat. ...Read the whole story