Univision buying TV stations for $1.1 billion

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Thursday, Dec. 7, 2000 | 11:21 a.m.

THE ASSOCIATED PRESS

NEW YORK -- The owner of the nation's top Spanish-language television network, Univision Communications Inc., is buying the television stations of USA Networks Inc., the media company headed by Barry Diller, for $1.1 billion.

The cash deal, announced today, would give Univision 13 TV stations and USA Network's minority stakes in four other stations. None of the stations being sold are in Las Vegas.

Diller said separately he had been "overly ambitious" about his plans for the station group.

Univision already reaches 92 percent of U.S. Hispanics and holds an 80 percent share of the audience. Telemundo Networks, owned by Sony Corp. and AT&T's Liberty Media, holds 20 percent of the market share.

In addition to the Univision Network, Univision also owns 12 full-power TV stations and seven low-power stations. Univision plans to convert all 13 of the new stations to Spanish-language programming.