Posted on 09/22/2003 2:23:24 PM PDT by El Conservador
WASHINGTON (Reuters) - Spanish-language television broadcaster Univision Communications Inc. on Monday won approval from U.S. communications regulators to acquire radio operator Hispanic Broadcasting Corp., expanding its reach to a growing U.S. Hispanic population.
After more than a year-long review, the Federal Communications Commission (news - web sites) said it has voted 3-2 to clear the $3.2 billion deal. More than 35 million Hispanics live in the United States and they spend an estimated $500 billion a year.
The FCC (news - web sites) ordered the two companies to divest radio stations in Houston and Albuquerque within six months of the agency's new rules governing radio ownership becoming effective.
"It will give Hispanic media a better opportunity to compete against big media companies, capturing more advertising revenue to allow it to expand unique language and cultural offerings to its audiences," the FCC's three Republicans, Chairman Michael Powell (news) and Commissioners Kathleen Abernathy and Kevin Martin, said in a joint statement.
Univision, based in Los Angeles, reaches 97 percent of the Hispanic population in the United States with its 32 owned or controlled television stations, soap operas, variety shows and sports programs.
Hispanic Broadcasting, based in Dallas, owns or controls 68 radio stations, many in the top Hispanic markets in the United States.
The FCC decided against considering the Spanish-language market as a separate one from English, despite concerns raised by the two FCC Democrats as well as the companies' rivals.
"Today's decision does nothing to curb Univision's enormous power over Spanish-language media, despite well-documented allegations of anticompetitive practices," said FCC Commissioner Jonathan Adelstein.
To appease antitrust officials, Univision has already agreed to cut its stake in rival radio operator Entravision Communications Corp. to no more than 10 percent in six years from 27 percent.
Univision shares closed down 3 cents to $34.93 while Hispanic Broadcasting's shares were up 6 cents to $29.56 on the New York Stock Exchange (news - web sites).
Tia
( I luv "The Simpsons"! )
That's an order Texas!
If I had to grade you, I'd give you a B-
I think you meant "Most of its programming can be described as garbage", which is true for Univision, BTW.
The gramatically correct phrase would be: Gran parte de su programación puede ser descrita como basura.
There's not an exact word for "most" in Spanish, then it translates as "gran parte" (a large part of)
The word "descrito" has to be changed for "descrita", because "programación" is feminine, and in Spanish verbs have both number and gender.
But it's pretty good!!! Keep on learning!!!
Yo sé tengo que estudiar y practicar mas. Pero estoy perezoso, y me pongo muy nervioso cuando tengo que hablar. ¡Es terrible!
Pero, uno de mis libros mas temprano contenía la expresíon: "Hay muchas palalbras que no entiendo. Sin embargo, me defiendo."
Gracias de nuevo. Que tenga buen dia.
Pero, gracias para su otra oferta. Muy amable.
Just the participles, even if used as verbals rather than adjectives.
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