New York, NY–(HISPANIC PR WIRE – BUSINESS WIRE)–June 23, 2006–Venevision Investments LLC, a Cisneros Group Company, has elected not to participate with private equity firms Bain Capital Partners and Cascade Investment, L.L.C., and with Mexican broadcaster Grupo Televisa, in the initial phase of presenting a plan or proposal for a transaction with Univision Communications Inc., the leading media company serving the fast-growing U.S.-Hispanic market.
The Cisneros Group of Companies (http://www.cisneros.com) is one of the largest privately held media, entertainment, telecommunications, and technology and consumer products organizations in the world. The Group owns, or holds interests in, companies ranging from broadcast television networks and pay television services, to beverage businesses and supermarkets. Through its diverse businesses, the Cisneros Group of Companies delivers some of the top brands and highest quality services to the 550 million Spanish and Portuguese-speaking consumers in the Americas and Europe.
Bear, Stearns & Co. Inc. is acting as advisor to Venevision Investments LLC.