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Univision Communications Inc. Announces Early Results of its Tender Offer for Any and All of its 12.00% Senior Notes due 2014 and Related Consent Solicitation

Monday 09. May 2011 - Univision Communications Inc. (the "Company"), today announced that, pursuant to the terms of its previously announced cash tender offer to purchase any and all of its outstanding 12.00% Senior Secured Notes due 2014 (the "Notes") and solicitation for consents to certain proposed amendments to the indenture governing the Notes (the "Indenture"), holders of $524,455,000 aggregate principal amount of the outstanding Notes (approximately 96.23%) have validly tendered, and not validly withdrawn, their Notes and have validly delivered, and not validly revoked, their consents for the proposed amendments prior to the expiration of the early tender time (the "Early Tender Time") of 5:00 p.m., New York City time, on May 6, 2011 (the "Early Tendered Notes").

The consents received exceed the number of requisite consents needed to approve all of the proposed amendments to the Indenture. The terms of the tender offer and consent solicitation are detailed in the Company’s offer to purchase and consent solicitation statement and a related letter of transmittal, each dated as of April 25, 2011 (the “Offer Documents”).
Holders of the Early Tendered Notes that are accepted for payment will receive the total consideration of $1,076.45 per $1,000 principal amount of Notes, which includes the consent payment of $10.00 per $1,000 principal amount of Notes, plus any accrued and unpaid interest up to, but not including, the early settlement date (as defined in the Offer Documents). Holders of Notes that are validly tendered, and not validly withdrawn, and related consents validly delivered, and not validly revoked, and accepted after the foregoing early tender time and at or prior to the expiration of the tender offer and consent solicitation will receive the tender offer consideration of $1,066.45 per $1,000 principal amount of Notes, plus any accrued and unpaid interest up to, but not including, the final settlement date. Holders of Notes tendered and related consents delivered after the Early Tender Time will not receive the consent payment. The tender offer and consent solicitation will expire at midnight, New York City time, on May 20, 2011, unless extended.
Based on the consents received, the Company and the trustee under the Indenture are expected to enter into a supplemental indenture that will, once operative, eliminate substantially all of the restrictive covenants contained in the indenture governing the Notes and the Notes (but not the covenant to pay the principal of, and interest on, the Notes when due), and release all of the collateral securing the Notes. The supplemental indenture will not become operative unless and until the Notes are accepted and purchased, which, subject to the satisfaction of the conditions set forth in the Offering Documents, is expected to be today, May 9, 2011.
This news release is neither an offer to purchase nor a solicitation of an offer to sell any Notes. The tender offer and consent solicitation are being made pursuant to the terms and conditions contained in the offer to purchase and consent solicitation statement and related letter of transmittal. The Company may amend, extend or terminate the tender offer or the consent solicitation in its sole discretion. Persons with questions regarding the tender offer or the consent solicitation should contact the following dealer managers and solicitation agents: Deutsche Bank Securities Inc. at (855) 287-1922 (U.S. toll free) or (212) 250-7527 (call collect); or Merrill Lynch, Pierce, Fenner & Smith Incorporated at (888) 292-0070 (U.S. toll free) or (646) 855-3401 (call collect).