Mexico's Grupo Televisa SA will soon join a group of private equity firms bidding forUnivision Communications Inc.
, CNBC reported. The other firms looking to acquire the L.A.-based Spanish-language broadcaster are Cisneros Group, Providence Equity Partners Inc., Madison Dearborn Partners LLC, KKR Financial Corp. and Carlyle Group, CNBC said, citing people close to the situation.
Last month, reports surfaced that a consortium of U.S. and Mexican investors, including Televisa, were teaming to launch a bid for Univision. Televisa later said it was not part of the consortium.
- Earl Scheib Inc. reached an agreement to settle a class action lawsuit related to how the company's California subsidiary classified certain employees under California overtime law over a seven-year period. While the Sherman Oaks-based operator of auto paint and body shops denied the allegations, it agreed to settle to avoid additional legal fees, expenses and management time that would have been devoted to what it called "protracted and uncertain litigation."
Nearly 450 current and former employees will be able to make claims to share in the settlement, which is worth about $750,000. Earl Scheib's portion is $250,000, all of which has been added to its balance sheets, the company said in a statement. The lawsuit was filed in March 2000.
- KB Home and Martha Stewart Living Omnimedia Inc. said they will build their second neighborhood in an Atlanta suburb. KB Home Hampton Oaks in South Fulton County will feature approximately 800 homes spanning 480 acres. The community, which is scheduled to open this summer, will offer homes ranging in size from 1,800 square feet to 4,600 square feet and priced from about $200,000 to $400,000.
In October, Stewart and KB Home struck a deal to extend her housewares brand into the houses themselves, with the first 650 model homes in Cary, N.C., opening on March 12. In February, KB Home expanded its agreement with Martha Stewart Living Omnimedia Inc. to design and create more Martha Stewart-inspired neighborhoods in communities around the country. Additional developments are planned for Houston; Charlotte, N.C.; Las Vegas; Southern California; and Orlando and Daytona Beach, Fla.
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