UNIVISION ACQUISITION OF HBC DELAYED

Spanish-Language Radio Purchase Still Under Federal Review

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NEW YORK (AdAge.com) -- Univision Communications' deal to acquire leading Spanish-language radio company Hispanic Broadcasting Corp. will probably not close this year, as initially expected, according to the company's management.

In a presentation at the UBS Warburg

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Media Week conference today, McHenry Tichenor, chairman-CEO of HBC, said the U.S. government's review of the deal has moved more slowly than expected.

"No news there, just working through regulatory hurdles," he said, adding that the companies now expect to close in the first quarter of 2003.

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 the U.S. Department of Justice, which is reviewing the deal's antitrust implications.

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