FCC Resumes Review of Univision Proposal

The Federal Communications Commission has restarted a formal review of Univision Communications Inc.’s $2.95-billion plan to acquire Hispanic Broadcasting Corp., though a final decision probably is several weeks away.

The FCC had stopped its 180-day clock at Day 178 of the review but restarted it Tuesday. Sources familiar with the matter said the expected approval is not imminent.

The agency stopped the clock in January pending a review of documents submitted to antitrust enforcers and consultations with them.

Univision’s stock rose $1.31 to $32, while Hispanic Broadcasting’s shares advanced $1.13 to $26.85 on the New York Stock Exchange.