JUSTICE DEPT. CLEARS UNIVISION DEAL FOR HBC

Spanish-Language Media Company First Must Scale Back Holdings

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NEW YORK (AdAge.com) -- Univision Communications' deal to acquire leading Spanish-language radio company Hispanic Broadcasting Corp. cleared a regulatory hurdle when the U.S. Department of Justice reached an agreement to clear the deal under several conditions.

In order to satisfy antitrust

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regulators, Univision will have to convert its share of TV station owner Entravision Communications Corp. into non-voting stock and reduce its 27% stake in Entravision to 15% in three years and to 10% in six years.

Univision announced the deal in June 12 to acquire HBC for $3.5 billion in stock, planning on a year-end closing. In September, the companies received a request for more information from Department of Justice regulators in the antitrust review, which caused a delay in closing.

The deal is now expected to close around March 14, subject to approval by shareholders and the Federal Communications Commission.

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