May 1, 2006
The drama unfolds on set.Once upon a time in land called California, a savvy Italian-American media executive ventured into Spanish-language television and amassed an empire. By recycling soap operas produced south of the border, the executive slashed costs. And to assuage the foreign suppliers, he gave them minority stakes. According to market lore, though, the executive also agreed that in the event of his death, or the transfer of his stake to another person, the power of his super-voting shares would shrink to 11.5% from 56%.
Rather than fable or fiction, this is the story of Univision, the fruit of 75-year-old Hollywood insider Jerry Perenchio's decades of labor. Univision m
The cast of characters expressing interest in buying US Spanish-language media group Univision reads like a Who's Who of Latin American society pages.