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APRIL 27, 2006

Televisa to Join U.S. Group That Will Vie for Univision

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MEXICO CITY -- Mexican broadcaster Grupo Televisa SA is structuring a bid with a group of U.S. private-equity investors for Spanish-language broadcaster Univision Communications Inc. in which it will limit its own stake to 25%, amid a recent Washington backlash against foreign control of firms in sensitive industries, said people familiar with the situation.

Televisa had hoped to quickly gain full control of Los Angeles-based Univision, which put itself up for sale, and had considered a variety of ways to do so, including having its chairman, Emilio Azcarraga, obtain U.S. citizenship, said these people. Under U.S. law, only U.S. citizens ...