Latino-Oriented Entravision Buys 17 Radio Stations, Paper
Entravision Communications Co., a Los Angeles-based owner of TV and radio stations targeting Latinos, on Wednesday agreed to buy Latin Communications Group Inc. for $250 million to enter the newspaper business and expand its chain of stations.
Closely held Entravision will pick up 17 Spanish-language radio stations in 10 markets, including Los Angeles and San Francisco. It will also get El Diario, the largest Spanish-language newspaper in the New York area.
The transaction makes Entravision, which was formed in 1996, one of the largest media companies focused on Spanish-language consumers. Entravision will have 17 TV stations and 26 radio stations after the acquisition is completed, which is expected next year. Spanish speakers make up one of the fastest-growing segments of the U.S. population.
“Spanish-language advertising in the U.S. continues to grow at approximately three times the rate of the general market,” said Entravision Chairman and Chief Executive Walter Ulloa. “The acquisition of Latin Communications Group positions Entravision to aggressively expand in the important radio segment as a complement to our strength in television.”
Closely held Latin Communications is owned by Trefoil Latin Investors, an investment partnership of Shamrock Holdings Inc., which is the Burbank-based investment company of Roy Disney and his family.
Entravision’s TV stations are affiliated with Los Angeles-based Univision Communications Inc., the largest Spanish-language television network in the U.S.
Univision shares rose 25 cents to close at $97.25 on the New York Stock Exchange.
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