What was the Group’s role in the founding of Univision?
For over 15 years we had looked for the right structure for investment in television to serve the U.S. Hispanic market. In 1992 we found an opportunity to invest in the U.S. that came about due to FCC requirements limiting foreign ownership of television stations in the U.S. After starting some TV stations in the U.S., Emilio Azcárraga Milmo of Televisa was required to sell them due to FCC regulations. We were able to convince Azcárraga Milmo that we should try to repurchase what would eventually become Univision, and bring in an American partner. I partnered with Azcárraga Milmo and the talented U.S. television executive, Jerry Perenchio. Perenchio had already invested in several Spanish-language channels, and was also a believer in the future of Hispanic television in the U.S. After a year of intense negotiations we had a deal.
