Companies still expect purchase to close by year's end
MIAMI — The Dept. of Justice has requested additional info on Univision Communications’ pending acquisition of Spanish-lingo radio company Hispanic Broadcasting Corp.
In a joint statement, Univision and Hispanic Broadcasting said they intend to work with the DOJ and to respond quickly, but still expect the purchase to close by year’s end.
Univision had announced the purchase of Hispanic Broadcasting for roughly $3.5 billion in stock June 12.
The acquisition will add the largest U.S. Spanish-language radio network — and the major missing piece — to Univision’s multimedia holdings. Dallas-based Hispanic Broadcasting owns 55 stations in 14 markets, including the top five Hispanic markets of Los Angeles, New York, Miami-Fort Lauderdale, Chicago and Houston.
It reported 2001 revenue of $240.8 million, compared with Univision’s $887.9 million.