Univision board member tapped

Televisa adds new board member

Mexican media giant Televisa has named its secretary counsel of administration, Ricardo Maldonado Yanez, to the board of U.S. Spanish-language conglom Univision.

Yanez fills a vacancy left by Televisa chairman Emilio Azcarraga and exec VP Alfonso de Angoitia, who served as director and alternate director, respectively.

Both resigned from the board last May due to an escalating royalties dispute with Univision.

Yanez is a member of the law firm Mijares, Angoitia, Cortes & Fuentes.

“Given the current tensions between the two companies, it makes sense for Televisa to have a lawyer keep an eye on the board,” said senior equity analyst Phil Remek of Guzman & Co. “They have the right to fill that seat whenever they want.”

Univision, which revealed the appointment in an April 19 SEC filing, has been on the block since February, and Televisa is said to be among potential buyers.

Televisa director Carlos Slim Domit bought 2.79% of Univision’s Class A stock last month for $288 million, a move some observers say could pose a conflict of interest.

Slim is the eldest son of Mexico’s wealthiest man, Carlos Slim Helu.

However, a Televisa source said if Televisa bids for Univision, “Mr. Slim would be recused from all deliberations.”

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