Univision Communications Inc. assured investors that its lineup of television shows from Mexican broadcaster Groupo Televista SA would not be interrupted even if Televisa decides to sell its 11 percent stake in the company.
The programming agreement between the two companies runs through 2017 and gives Los Angeles-based Univision, the largest Spanish-language broadcaster in the U.S., exclusive rights on Televista's Spanish-language programming in the U.S.
Mexico City-based Televisa, the largest Spanish-language broadcaster in the world, was the losing bidder in the $12.3 billion-dollar sale of Univision on June 26 to a group that includes Providence, RI-based Providence Equity Partners Inc. and billionaire Haim Saban.
Telivista said this week that it plans to sell its stake in Univision to pursue other opportunities in the U.S. market. By selling the stock, Televisa said it will be free of a separate 1996 agreement that prevents the company from expanding in the U.S. without including Univision as a partner.
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