America’s biggest Spanish-language TV and radio groups are to merge.
Television network Univision Communications has agreed to buy Hispanic Broadcasting, owner of 55 radio stations in 14 markets, for around $3.5 billion (€3.7bn; £2.4bn) in shares.
Eager to bolster its hold on America’s rapidly expanding Hispanic population, Univision reportedly outbid number two Spanish-language network Telemundo and radio broadcaster Spanish Broadcasting System.
Under the deal, 0.85 Univision shares will be swapped for each Hispanic Broadcasting share, giving the latter around 26% of the combined company. Clear Channel Communications, which holds a 26% stake in HB, will end up with 7% of Univision.
Data sourced from multiple sources; additional content by WARC staff