The FCC approved the acquisition of Univision Communications Inc. by Broadcasting Media Partners Inc.
BMP is an investor group that includes Madison Dearborn Partners, Providence Equity Partners, TPG, Thomas H. Lee Partners, and Saban Capital Group.
BMP will pay $36.25 in cash per Univision share.
The commission and Univision also worked out a $24 million Consent Decree to resolve pending license renewal applications in which petitioners alleged that some Univision stations failed to comply with children’s programming requirements.
In pending license renewal proceedings for TV stations in Cleveland and San Francisco, the United Church of Christ and the National Hispanic Media Coalition argued that, by relying on Spanish-language soap operas, certain Univision stations did not meet the criteria for children’s television “throughout significant periods during their most recent license terms,” according to the FCC, which said Univision agreed to a plan that will ensure future compliance.
Univision Communications has 63 television stations, Univision Radio has 69 radio outlets. The company also owns several record labels and an Internet division.