By Lisa Kerner
Charlotte, N.C., March 27 - The Federal Communications Commission approved the acquisition of Univision Communications Inc. by Broadcasting Media Partners Inc. for $36.25 per share in cash.
The transaction, valued at some $13.7 billion including the assumption of $1.4 billion in debt, is expected to close this month.
Shareholders voted to approve the merger in September.
Broadcasting Media Partners is an investor group that includes Madison Dearborn Partners, Providence Equity Partners, TPG, Thomas H. Lee Partners and Saban Capital Group, according to a company news release.
"This important step paves the way to close Broadcast Media Partner's acquisition of Univision," Joe Uva, who will become Univision's chief executive following the acquisition, said in the release.
"Following the transaction, Univision will remain committed to ... building on Univision's unique connection with its audience and continuing to serve the rapidly growing U.S. Hispanic community."
Univision is a Spanish-language media company based in Los Angeles.
| Acquirer: | Broadcasting Media Partners, Inc.
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| Target: | Univision Communications Inc.
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| Transaction value: | $1.4 billion
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| Payment per share: | $36.25
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| Announcement date: | Sept. 27
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| Expected closing: | On or before March 31
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| Stock price for target: | NYSE: UVN; $36.15 on March 23
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